Ivan Glasenberg Quotes
100 Ivan Glasenberg Quotes (Glencore Quotes)
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I think you create your own luck by working hard…
Ivan Glasenberg
You’ll sacrifice a lot of things in the early part of your career to be successful…
Ivan Glasenberg
To be ahead of your competitors, you have to work hard.
Ivan Glasenberg
I observed a man sourcing candle wax from South America and selling it to Japan. I thought, 'That's unbelievable. Talking on the phone in his office that man made money moving candle wax from one country to another.' It really interested me.
Ivan Glasenberg
[Once someone has chosen their field] Dedicate to it and work the hours.
Ivan Glasenberg
Don’t change the rules on us, once we put our money in the country.
Ivan Glasenberg
If they start changing the rules on you, you may not continue investing.
Ivan Glasenberg
You have got to make sure that the rules aren’t going to change on you.
Ivan Glasenberg
I think that [resource] nationalisation it just has nowhere to go in Africa…
Ivan Glasenberg
I have no problem with governments taking something out of the transaction.
Ivan Glasenberg
I think that’s what we all learnt during the crisis – stress test the balance sheet.
Ivan Glasenberg
The Companies Act of Russia is different to other parts of the world. There are different structures in the Companies Act which you’ve go to get to understand. Western companies don’t quite understand or get to grips that certain things are different where a company can own shares in itself and management can convert those shares is something new to us in the western world.
Ivan Glasenberg
Over time to really play in the commodity space and to be a real player you had to buy assets.
Ivan Glasenberg
If you want to grow in the fixed asset space and you want assets which is clear I think if you want to be big in this commodities space you need to buy assets.
Ivan Glasenberg
I believe any of the commodity trading companies who need fixed assets will eventually have to go public. If they want to get bigger.
Ivan Glasenberg
Long-term the fundamentals of demand/supply rule.
Ivan Glasenberg
[On funds/speculators pushing up commodity prices] They speculate so they foresee prices going up so they go long the commodity and they buy LME inventories and they take a long position, and they do push up the price. However in the end the fundamentals prevail.
Ivan Glasenberg
It’s a physical commodity, it’s a commodity which we play, it’s not just pure paper type commodities with nothing physical backing it up…
Ivan Glasenberg
I think speculators create a market for a while, what I call the froth or whatever it is in the market but eventually the fundamentals prevail.
Ivan Glasenberg
When we IPO’d the company I’ve clearly said that I have no intention to sell my shares…
Ivan Glasenberg
I have no intention to sell my shares, in the company so I’m not day to day worrying about a share price.
Ivan Glasenberg
[On Glencore being a publicly listed company] It gives you a lot of firepower to do things where you see opportunities, whether it’s organic growth, whether it’s acquiring companies, whether it’s acquiring assets etc. It gives you a lot of flexibility and a lot of power.
Ivan Glasenberg
[On running a publicly listed company] I quite enjoy it.
Ivan Glasenberg
We’re in these countries to make a profit for our shareholders, but we also contribute to development work. It’s in our interest to contribute to the welfare of the population through taxes and the creation of jobs.
Ivan Glasenberg
Each country has it’s own problems.
Ivan Glasenberg
The problem of corruption in connection with multinationals is exaggerated.
Ivan Glasenberg
To develop Africa for the future… Africa needs a large amount of money.
Ivan Glasenberg
I think all countries in Africa are now competing for the funds from us – the outside community.
Ivan Glasenberg
The governments within Africa just do not have the funds to even try to nationalise it and develop these assets.
Ivan Glasenberg
[On whether resource nationalisation would take place in Africa] If they nationalise it where’s the funds going to come from to develop it?
Ivan Glasenberg
[On mining projects in Africa] The size, the amount of money that has to be invested in these mines, you’re talking billions and billions of dollars.
Ivan Glasenberg
[On the Democratic Republic of the Congo and Zambia] Us alone I think we put $4 billion dollars into these two countries and continue, and that’s just for the mines, excluding infrastructure.
Ivan Glasenberg
There’s a shortage of power in the Congo, we need to upgrade the substations, and we need ourselves some private investors to assist us on this…
Ivan Glasenberg
[On developing mines in Congo and Zambia] We’re not getting anything from governments to help us develop these areas because they just don’t have the funding.
Ivan Glasenberg
I’m not saying we’ve got to own it all. But we do say don’t change the rules on us, once we put our money in the country.
Ivan Glasenberg
We are digging the resource out of their ground, out of their country – they’ve got to get their fair share of it. I’m not saying we’ve got to own it all.
Ivan Glasenberg
[On him becoming richer after listing Glencore] It’s not going to change my life.
Ivan Glasenberg
I think the key thing that we all learnt during the crisis was the level of debt that we all had on the balance sheet.
Ivan Glasenberg
[On mining companies taking advantage of the GFC] Because all these people didn’t have their balance sheets set up correctly, no-one could take advantage of the prices.
Ivan Glasenberg
[On commodity traders during the GFC] We should have had a stable balance sheet. We at Glencore didn’t have such a bad balance sheet at the time.
Ivan Glasenberg
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