IXM

For the airport with the IATA code IXM, see Madurai Airport.

IXM
Company typePublic
IndustryCommodities
Metals and Mining
Founded2005; 20 years ago (2005)
(As Louis Dreyfus Metals)[1]
FounderLouis Dreyfus Company
HeadquartersGeneva, Switzerland
Area served
Worldwide
Key people
Kenny Ives (CEO)
ProductsMetals Concentrate and Refined Metals
RevenueUS$ 12.524 billion (2017)[2]
Undisclosed
US$ 92.3 million (2017)[2]
Total assetsUS$ 3085.6 million (2017)[2]
Total equityUS$ 407.0 million (2017)[2]
OwnerChina Molybdenum[3]
Number of employees
Over 420[4]
Websitewww.ixmetals.com

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.[5][6] 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.[7][8] 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.[9] 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.[10] 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.[11]

China Molybdenum took full control IXM in July 2019.[3]

References

  1. ^ "Louis Dreyfus Company Sells Global Metals Business To NCCL Natural Resources Investment Fund". LDC.com. 22 December 2017. Retrieved 4 July 2018.
  2. ^ a b c d "公告 - 收购持有IXM的目标公司的非常重大收购" (PDF) (in Chinese). chinamoly.com. 4 December 2018. Archived from the original (PDF) on 11 December 2018. Retrieved 4 December 2018.
  3. ^ a b "China Moly takes full control of ex-Dreyfus metals unit for $518 million". Reuters. 25 July 2019. Retrieved 16 June 2022.
  4. ^ "IXM: Home". chinamoly.com. Retrieved 13 December 2022.
  5. ^ Hoffman, Andy; de Sousa, Agnieszka (2 November 2016). "Top Five Metals Trader Is Hiding Inside Food Giant Louis Dreyfus". Bloomberg L.P. Archived from the original on 3 November 2016. Retrieved 4 July 2018.
  6. ^ "Louis Dreyfus Company sells metals business to Chinese fund". ft.com. 23 December 2017. Retrieved 4 July 2018.
  7. ^ "Louis Dreyfus Company completes the sale of its global Metals business to NCCL Natural Resources Investment Fund". LDC.com. 11 May 2018. Retrieved 4 July 2018.
  8. ^ "LDCM rebranded to IXM" (PDF) (in Chinese). 31 May 2018. Archived from the original (PDF) on 4 July 2018. Retrieved 4 July 2018.
  9. ^ "China Molybdenum takes direct ownership of IXM in $495mln fund buyout, details profits". metalbulletin.com. 5 December 2018. Retrieved 17 December 2018.
  10. ^ "Louis Dreyfus Commodities Metals acquires 51% of GKE metal". ldc.com. 22 June 2012. Retrieved 17 December 2018.
  11. ^ "LDC-AR-2017" (PDF). ldc.com. Archived from the original (PDF) on 17 December 2018. Retrieved 17 December 2018.
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