IXM explained

Type:Public
Foundation:
(As Louis Dreyfus Metals)[1]
Location:Geneva, Switzerland
Area Served:Worldwide
Key People:Kenny Ives (CEO)
Industry:Commodities
Metals and Mining
Products:Metals Concentrate and Refined Metals
Revenue:US$ 12.524 billion (2017)[2]
Operating Income:Undisclosed
Net Income:US$ 92.3 million (2017)
Assets:US$ 3085.6 million (2017)
Equity:US$ 407.0 million (2017)
Num Employees:Over 420[3]
Owner:China Molybdenum

IXM S.A. is a base metal commodity trading company with headquarters in Geneva, Switzerland. It is regarded as the third biggest metals trading company aside from Glencore and Trafigura.[4] [5] The current company was rebranded from "LDC Metals" to "IXM" after the transaction from LDC Group to the Chinese fund NCCL Natural Resources Investment Fund was completed in May 2018.[6] [7] It is a global merchant in base and precious metals, and is among the top copper, zinc and lead concentrates merchandizers, and a leader in refined copper, zinc, aluminium and nickel markets.

IXM's business started in 2005 when Louis Dreyfus Company acquired Mitsui & Co's copper concentrates book.[8] The business was expanded rapidly afterwards, when IXM broadened its reach to multiple raw and refined metal books. In 2012, IXM acquired 51% stake of GKE metal with $8m, as a step of its expansion into metals warehousing business.[9] The GKE Metal's stake was sold to a sister company of LDC in Nov 2017, as per a company filing of Louis Dreyfus Company.[10]

China Molybdenum took full control IXM in July 2019.[11]

Notes and References

  1. Web site: Louis Dreyfus Company Sells Global Metals Business To NCCL Natural Resources Investment Fund. 22 December 2017. 4 July 2018. LDC.com.
  2. Web site: 公告 – 收购持有IXM的目标公司的非常重大收购. 4 December 2018. 4 December 2018. Chinese. chinamoly.com. 11 December 2018. https://web.archive.org/web/20181211010142/http://chinamoly.com/06invest/doc/2018/C_03993_2018120403.pdf. dead.
  3. Web site: IXM: Home. 13 December 2022. English. chinamoly.com.
  4. Web site: Top Five Metals Trader Is Hiding Inside Food Giant Louis Dreyfus. Andy. Hoffman. Agnieszka. de Sousa. 2 November 2016. 4 July 2018. Bloomberg News. https://web.archive.org/web/20161103140724/https://www.bloomberg.com/news/articles/2016-11-02/top-five-metals-trader-is-hiding-inside-food-giant-louis-dreyfus. 2016-11-03.
  5. Web site: Louis Dreyfus Company sells metals business to Chinese fund. 23 December 2017. 4 July 2018. Financial Times. London.
  6. Web site: Louis Dreyfus Company completes the sale of its global Metals business to NCCL Natural Resources Investment Fund. 11 May 2018. 4 July 2018. LDC.com.
  7. Web site: LDCM rebranded to IXM. Chinese. 31 May 2018. 4 July 2018. 4 July 2018. https://web.archive.org/web/20180704123210/http://www.chinamoly.com/06invest/doc/2018/C_03993_A275.pdf. dead.
  8. Web site: China Molybdenum takes direct ownership of IXM in $495mln fund buyout, details profits. 5 December 2018. 17 December 2018. metalbulletin.com.
  9. Web site: Louis Dreyfus Commodities Metals acquires 51% of GKE metal. 22 June 2012. 17 December 2018. ldc.com.
  10. Web site: LDC-AR-2017. 17 December 2018. ldc.com. 17 December 2018. https://web.archive.org/web/20181217180935/http://www.ldc.com/files/1815/2161/8350/LDC-AR-2017.pdf. dead.
  11. Web site: China Moly takes full control of ex-Dreyfus metals unit for $518 million . Reuters. 2019-07-25 . 2022-06-16.

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