While Trafigura's metals business accounted for an average of 40% of the company's total profit in the period 2012 to 2019, that share fell to 23% between 2020 and 2022, and in the 12 months to March 2023 it has been just 6%, according to the company's financial statements.
A deep-pocketed partner could give Trafigura additional firepower to buy assets like mines or processing plants — seen by many as increasingly crucial to secure the flow of commodities needed for a global trading business.
Read the whole story on Bloomberg here: https://www.bloomberg.com/news/articles/2023-09-17/trafigura-wrestles-with-future-of-metals-unit-after-losses?
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