Glencore E-Mail Chain - October 22th, 2025

[SSgt Waller]

From: [email protected]
To: Executive Leadership Team
Classification: INTERNAL / STRICTLY CONFIDENTIAL

 

Thank you both.

 

Proceed on the assumption that Guinea has entered the highest category of geopolitical risk.

Government Affairs is authorised to expand engagement with diplomatic stakeholders and industry associations immediately.

 

Any engagement must remain consistent with our established public position:

• We support the protection of civilians.

• We support the restoration of humanitarian operations.

• We support internationally coordinated efforts to stabilize Guinea.

• We support measures that restore the rule of law and secure critical infrastructure necessary for civilian recovery and economic stability.

 

Under no circumstances should Glencore be perceived as advocating military intervention to protect commercial interests.

Our role is to provide governments with objective assessments of the economic consequences of continued instability alongside the worsening humanitarian situation.

 

If a multinational, UN-authorised stabilization mission ultimately proceeds, it will reduce risk to civilian populations while allowing critical infrastructure and supply chains to recover.

 

Prepare a stakeholder engagement plan for tomorrow's Executive Committee meeting.

Gary

 

Kind regards

Gary Nagel

Chief Executive Officer

 

D +41 41 709 20 10

E-mail: [email protected]

 

Glencore AG - Energizing today, Advancing tomorrow

Baarermatstrasse 3

6340 Baar

Switzerland

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From: [email protected]
To: Sarah Whitmore; EVP Africa Operations; General Counsel; CEO
Classification: INTERNAL / STRICTLY CONFIDENTIAL

 

Hi Sarah,

 

I agree with your assessment.

We should be extremely careful not to create the impression that Glencore is encouraging military intervention to safeguard its mining assets. That would create unacceptable reputational and political exposure if these discussions became public.

 

Our external messaging should remain focused on three themes:

• Protection of civilians.

• Restoration of humanitarian access.

• Regional economic stability.

 

Privately, however, governments should understand the broader strategic implications.

Guinea supplies a substantial proportion of global bauxite production. Continued instability—or complete state fragmentation—would have significant downstream consequences for aluminium production and international manufacturing.

 

Should transport corridors become contested or mining concessions become inaccessible, the effects will extend far beyond Guinea itself.

I recommend discreet engagement with:

• Swiss Federal authorities.

• French Ministries of Foreign Affairs and Industry.

• American and Canadian diplomatic contacts.

• European Commission officials.

• Industry associations representing aluminium producers.

• Relevant UN economic and humanitarian agencies.

•  

The objective should be to ensure supply-chain resilience forms part of the international policy discussion alongside the humanitarian crisis.

Daniel

 

Kind regards

Daniel Keller

Director Government Affairs

 

D +41 41 709 20 25

E-mail: [email protected]

 

Glencore AG - Energizing today, Advancing tomorrow

Baarermatstrasse 3

6340 Baar

Switzerland

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From: [email protected]
To: EVP Africa Operations; EVP Government Affairs; General Counsel; Global Risk Assessment Director
CC: CEO; Chief Strategy Officer
Classification: INTERNAL / STRICTLY CONFIDENTIAL

 

Hi all,

Following Philippe's latest assessment and this morning's crisis call, I believe we need to begin viewing Guinea not simply as an operational disruption but as a strategic supply-chain risk with potentially global consequences.

 

Our immediate concern remains personnel safety.

Our medium-term concern is continuity of production, logistics and export infrastructure.

If current reporting regarding widespread atrocities against Fulani civilians, mass detention of humanitarian personnel and the collapse of state authority continues to be corroborated, the probability of sustained international intervention has increased considerably.

 

Rather than focusing solely on physical site security, Government Affairs should begin assessing whether coordinated diplomatic engagement can help accelerate an internationally led stabilization effort.

 

Specifically, I would like an assessment covering:

• Current French, American and Canadian positions regarding possible UN action.

• ECOWAS and African Union appetite for supporting an intervention.

• Likelihood of Security Council authorisation.

• Potential consequences for global aluminium markets should Guinean exports be disrupted for an extended period.

 

Our objective is straightforward:

A rapid multinational stabilization mission would reduce operational uncertainty, restore confidence in critical logistics corridors and significantly mitigate long-term supply-chain disruption.

This has become more than a regional security issue. It is rapidly evolving into a matter of strategic importance for global commodity markets.

Please provide recommendations before tomorrow's Executive Committee meeting.

Sarah

 

Kind regards

Sarah Whitmore

Chief Analyst Africa Operations

 

D +41 41 709 20 36

E-mail: [email protected]

 

Glencore AG - Energizing today, Advancing tomorrow

Baarermatstrasse 3

6340 Baar

Switzerland