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Glencore Xstrata list on JSE

The company opened at R55 per share on the Johannesburg Stock Exchange’s main board.

The company opened at R55 per share on the Johannesburg Stock Exchange’s main board. Picture: AFP.

JOHANNESBURG - Shares in mining and commodity trading group Glencore Xstrata started trading on the Johannesburg Stock Exchange on Wednesday.

Glencore is already listed on the London Stock Exchange and has a secondary listing in Hong Kong.

The shares opened at R55 each.

Glencore's activities in Africa are skewed towards chrome and coal production.

It also has copper and platinum interests, including a 25 percent stake in Lonmin, the world's third-largest producer of platinum.

South Africa's platinum sector has just come through two tough years with weak platinum prices and labour unrest.

Brokers are likely to keep a cautious eye on the new stocks.

The JSE dropped by nearly 900 points on Wednesday, but Glencore Xstrata was not hit by the negative trend.