ENGLISH

TRAFIGURA GROUP PTE. LTD. CORPORATE BROCHURE

Financial and business highlights*

$180.7 bn 2.1 bn 2,956

Group revenue Oil and Petroleum Products Wet shipping and chartering
total barrels traded fixtures per year

$53.8 bn 18.5 mmt 1,234

Total assets Metals total volume traded **
Dry shipping and chartering
fixtures per year

$58.0 bn 77.4 mmt 4,316

Financial lines available Minerals total volume traded Average number of employees over
to Trafigura the year

* Financial year: 1 October 2017 to 30 September 2018. All figures in USD.

** Million metric tonnes.

Trafigura Group Pte. Ltd. and the companies in which it directly or indirectly owns investments in are separate and distinct entities. In this Cover image:
publication, the collective expressions ‘Trafigura’, ‘Trafigura Group’, ‘the Company’ and ‘the Group’ may be used for convenience where Crude oil off-loading station in Pleasanton,
reference is made in general to those companies. Likewise, the words ‘we’, ‘us’, ‘our’ and ‘ourselves’ are used in some places to refer to the Texas, US.
companies of the Trafigura Group in general. These expressions are also used where no useful purpose is served by identifying any particular
company or companies.
Global trade brings the world closer together.
It expands the wealth of nations, forges
common interests and builds mutual trust.
Trafigura makes trade happen. And we make
it our mission to do that responsibly. We deploy
infrastructure, skills and our global network
to move physical commodities from places they
are plentiful to where they are most needed.
We have been connecting our customers to
the global economy for a quarter of a century.
We grow prosperity by advancing trade.
Find out more
www.trafigura.com

Contents

Overview How we add value

04 At a glance 12 How we add value
06 Service and performance 14 Global reach and scale
08 Oil and Petroleum Products 16 Logistics and infrastructure
10 Metals and Minerals 18 End-to-end service
20 Financial strength and expertise
22 Responsibility
24 Industrial assets and investments
26 Strategic alliances
4 Overview How we add value

Trafigura at a glance

Trafigura’s core business is physical trading and logistics; our assets

and investments complement and enhance these activities.

66 38 4,316
Offices Countries Employees

Trading activities North America

6
Offices
Oil and Petroleum Products
260
Employees
In a fragmented market where no single
company has a dominant position, we are
one of the world’s largest traders by volume
2.1 bn
(Total barrels traded)
of oil and petroleum products.
Trafigura is one of the few oil and 2018 2.1
petroleum product traders with global 1.9
2017
presence and comprehensive coverage
of all major markets. 2016 1.6

Metals and Minerals

We are one of the world’s largest metals

and minerals traders. We negotiate offtake
and supply agreements with miners and
95.9 mmt
(Total volume traded)
smelters and invest in logistics through
Impala Terminals to improve market access 2018 95.9
for our clients. 69.9
2017
2016 59.0

Shipping and Chartering

Our Shipping and Chartering desk is closely

integrated into Trafigura’s business model,
providing freight services to commodity
4,190  fixtures
(Wet and dry fixtures)
trading teams internally and trading freight Latin America
externally in the professional market. 2018 4,190 26
Operations are based in regional offices in 4,151 Offices
2017
Athens, Geneva, Houston, Montevideo and
Singapore. All post-fixture operations are 2016 3,878 2,168
Employees
managed from our Athens office.
 Trafigura Corporate Brochure 2019 5

Global presence and key subsidiaries

Impala Terminals Trafigura Mining Group Galena Asset Management

Impala Terminals is a multimodal logistics Trafigura Mining Group manages mining Galena Asset Management provides
provider focused on export-driven emerging operations, develops projects, conducts investors with specialised alternative
markets. It owns and operates ports, port technical audits of existing and potential investment solutions through its
terminals, warehouses and transport assets. investment projects; and provides advisory investments in real assets and private
It has particular expertise in providing and support services to Trafigura’s trading equity funds. It operates independently, but
efficient logistic solutions in challenging desks, trading counterparties and Galena benefits from the Group’s insights into the
environments and hard-to-reach locations. Asset Management. global supply and demand of commodities.
www.impalaterminals.com www.trafigura.com/mining www.galena-invest.com

Europe
12
Offices

591
Employees

Middle East Asia & Australia

2 13
Offices Offices

38 988
Employees Employees

Africa
7
Offices

271
Employees
www.trafigura.com/locations
6 Overview How we add value

Our vision is of an
increasingly interconnected
and prosperous world where
physical commodities pass
seamlessly from their points
of origin to points of need.

We add value to the global

trade in natural resources
by delivering exceptional
service and performance
across the supply chain.

A Suezmax vessel being loaded at a Corpus Christi storage and export terminal, Texas, US.
 Trafigura Corporate Brochure 2019 7

Service and performance

Trafigura is an independent, employee-owned In an increasingly competitive marketplace, We invest in industrial assets that
physical trading and logistics business. our ability to respond swiftly to shifting streamline and simplify physical delivery.
We focus on creating long-term value for patterns of demand is a key differentiator. Our Shipping and Chartering Division
our customers by prioritising their interests. We use our global presence, market and multimodal logistics operator,
We ensure we have the resources and the knowledge and logistics capabilities Impala Terminals, supports our physical
agility to accommodate fluid customer to make trade flow better. We do that by trading with freight services and
requirements in fast-changing markets. balancing supply and demand, optimising world-class infrastructure.
supply chains and servicing the needs of
our customers around the world.

What we do
Our integrated physical trading and We use our market knowledge, logistics We source, store, blend and deliver
logistics operation delivers outstanding and infrastructure to connect the commodities according to precise customer
service and performance across the producers, processors and end-users specifications. We manage diverse risks and
product spectrum. of physical commodities. complex operational issues.

Transformations in space, time and form

Space Time Form

We move physical commodities from We store physical commodities while We blend physical commodities
places they are abundant to where they supply is high and release inventories at to match quality or grade to
are in demand. times of high demand. customer specifications.

Source Store Blend Deliver

We negotiate offtake We store petroleum products We blend physical We operate efficient, safe
agreements with oil at owned and third-party commodities to regional, and high-quality logistics.
producers, refiners, mining tankage. We store metals and market and customer We move commodities by
companies and smelters. We minerals at Impala Terminals specifications in strategically barge, truck, rail, pipeline
own mines and invest in and third-party-owned located terminals and and vessel in support of our
logistics that improve market facilities. warehouses around core trading activities and for
access for our suppliers. the world. third parties.
8 Overview How we add value

Oil and Crude oil

Petroleum The crude desk’s strong

technical capabilities and

Products
resources give us the agility
to respond to changing
market dynamics. We have
access to long-term supplies
of tradable oil streams and
Trafigura is one of the world’s control tankage at strategic
largest independent traders of oil locations. We provide
distribution solutions for
and petroleum products and one many different producers
of very few with genuine global and assist refineries with
presence and comprehensive tailored shipments and
product coverage. specialist financing.
Our expertise is matched by
extensive logistical and storage
capabilities around the world.
Our trading teams in Beijing,
Calgary, Geneva, Houston,
884m
Montevideo, Moscow and
Singapore are complemented
by offices in Johannesburg,
Mexico City and Mumbai.

2.1 bn
Barrels of oil and petroleum
products traded in 2018

5.8 m
Barrels of oil and petroleum
products traded per day

Condensates
Trafigura is a leading
international condensates
trader, bringing a wide
variety of grades to market in
all parts of the world. We are
developing new uses for
condensates with a diverse
customer base that includes
refineries, splitters and
petrochemical facilities.

13m
 Trafigura Corporate Brochure 2019 9

Gasoline Fuel oil Middle distillates Naphtha

The gasoline desk manages The fuel oil trading desk Trafigura manages one of the Trafigura is a leading naphtha
one of the world’s largest combines global presence, largest middle distillates trader. We source, store and
seaborne gasoline books. market knowledge and books across its global blend all the most actively
We have an active market efficient logistics to connect network. We trade the full demanded products and
presence in components and producers and end-users. range of distillates, from low grades, supporting trade
extensive, strategically Our team has built a to high sulphur. Our middle flows to the Far East, North
located tankage. Our global significant and sustainable distillates trading operation and Latin America, Africa and
storage footprint, strategic feedstock business and covers jet fuel, diesel and gas Europe. Given the close
relationships with forged close ties with oil. We use our global storage relationship between
downstream operators and end-users in the bunker network to blend products naphtha trading and activity
carefully managed global market. We serve our to local specifications. in such segments as gasoline
distribution system are customers’ needs by blending Our team can adapt quickly and petrochemicals, this
key strengths. and shipping between our to constantly changing market enables Trafigura to
global network of leased and specifications across the maximise the benefits of its
owned storage facilities. world to maximise flexibility integrated trading model.
to all of our customers.

249m 266m 297m 150m

LPG LNG Natural gas Biodiesel

Trafigura is a leading trader in In this rapidly growing energy Our natural gas desk, focused The biodiesel desk is fully
the rapidly changing LPG market, Trafigura remains on the US and Europe, has integrated within our global
market. Our global presence one of the world’s largest grown significantly to meet distillates team. It works
and strong logistical system independent LNG traders. increasing demand as globally to promote biodiesel
support our trading activities. In addition to our spot natural gas continues to as a sustainable alternative
With control of our own business we have firm expand its share in the and adjunct to fossil
storage and chartering long-term offtake from the power generation mix. fuel-based diesel.
facilities, we can tailor cargo US and elsewhere, allowing We are the largest purchaser
specifications to suit a wide us to offer unparalleled of gas in Texas, US and
range of customers, from security of supply. largest supplier of gas to
petrochemical consumers Our LNG infrastructure Mexico. In Europe we have
and blenders to autogas and business supports customers growing sales of natural gas
bottled gas consumers. with strategically deployable to Ukraine, Spain and Italy.
assets that offer cost
benefits, flexibility and
modularity.

82m 91m 64m 4m

10 Overview How we add value

Metals and
Minerals
As one of the world’s largest metals
and minerals traders, Trafigura is
building global connectivity between
miners, smelters and refined
metal fabricators.
We offer financial assistance through
offtake agreements, structured
finance and tolling models and
develop downstream outlets that
underpin volume growth.
Our global trading desks operate
from Geneva, Montevideo,
Singapore and Stamford and
are supported by offices in
Johannesburg, Lima, Mexico City,
Mumbai, Santiago and Shanghai.

95.9 mmt
Total volume of metals
and minerals traded
 Trafigura Corporate Brochure 2019 11

Concentrates Refined metals Iron ore Coal

Trafigura is the market leader Trafigura is the market leader We trade the whole We are one of just two truly
in copper, zinc, lead and for the majority of the spectrum of iron ore global operators in thermal
nickel concentrates trading refined metals we trade. products and grades. coal and are committed to
as well as alumina and cobalt We trade copper cathodes, With origination teams following the highest
hydroxide. We create a more copper blister and copper in all the main exporting regulatory standards
coherent supply chain for wire rods, aluminium, countries, we use our applicable to this commodity
our customers using lead, zinc, nickel and extensive international across the world.
geographical and quality precious metals. network to connect specific We continue to secure
arbitrages. Carefully selected We maintain a global buyers with particular volume growth and increased
investments in infrastructure presence. We have the grades of stock. We source market share. Our focus is on
are furthering volume knowledge on the ground to cost competitive supplies innovative origination
growth. We work to develop source metals swiftly and through our close strategies, trading flows
long-term relationships and cost-effectively from around relationships with the major and delivery methods. We
to guarantee a consistent, the world. Our focus is on producers and provide source coking coal for global
high quality service. building volume and meeting support for smaller mining steel producers and are
the varying needs of concerns. Our sales teams in growing our presence in coke
producers and end-users. China have strong contacts and petcoke.
with steel mills and local
trading houses.

10.4mmt 8.1mmt 16.9mmt 60.5mmt

Copper Copper Coal

Zinc Zinc Thermal coal

Lead Lead Coke

Nickel Aluminium Petcoke

Cobalt Nickel

Alumina Precious metals

12 Overview How we add value

How we
add value
We add value by connecting
counterparties, building capacity
and developing physical
commodity markets reliably,
efficiently and responsibly.
In the pages that follow, we present
some of the ways our strategic
approach and global resources are
advancing trade.

Global reach and scale  14

Logistics and infrastructure  16

End-to-end service  18

Financial strength and expertise  20

Responsibility  22

Industrial assets and investments  24

Strategic alliances  26
 Trafigura Corporate Brochure 2019 13

Connecting counterparties
Trafigura is advancing trade by forging We source raw commodities from We sell processed commodities
strong bonds with commodity producers, producers at mines, oil and gas wells. to end-users. These can include state
processors and end-users. As a globally The demand for these comes mainly from agencies, manufacturers, utilities,
active physical trading house, we source, processors – refineries, smelters and power plants, energy retailers and
store, blend and deliver commodities liquefaction plants. We deliver shipments construction companies.
worldwide. according to their specific requirements.

Processors

End
Producers Source Store Blend Deliver
Users

Trafigura – Value Creation

by transforming commodities by reducing costs by managing risks

•• Global network •• Hedged financial risks
In space •• Market knowledge •• Political and liability risk insurance
•• Low financing cost •• Integrated systems and processes
In time •• Operational efficiency •• Regulatory compliance
•• Economies of scale •• Governance and responsibility
•• Infrastructure investment
In form
•• Supply chain optimisation

…reliably …efficiently …responsibly

Reliability is fundamental. Our trading Physical commodities trading is a Our business spans the globe and
counterparties are often of strategic high-volume, low-margin business. we manage a complex array of
importance in their respective Intense competition and market operational and financial risks.
economies. Any disruption can transparency put the emphasis on We have learnt to operate effectively
have far-reaching consequences. service and operational efficiency. in a wide range of political and
We pride ourselves on always As a leading global trading house cultural environments. Integrated
delivering at the right place and Trafigura enjoys significant economies systems and processes allow us to
time and at the specified quality of scale and has access to low-cost apply consistent standards across
(space, time and form). funding from international lenders. the Group.
Ensuring that customers receive their It creates and supplements local Trafigura’s culture is founded on a
commodities at the agreed specification infrastructure and develops service ethos. Individually, our people
when and where they require them multimodal logistics that streamline are expected to act with a high
demands intense operational activity. and simplify supply chains. degree of personal integrity.
We have made substantial investments As a Group, we strive both to meet
in infrastructure, storage, transportation and to develop international best
and logistics to facilitate this across practice. Our focus is on activities
the globe. that generate long-term value.

Impala Terminal’s export facility in Huelva, Spain.

14 Overview How we add value

Global reach
and scale
We forge robust connections
between suppliers and end-users
through our global network,
efficient logistics and unparalleled
market understanding.
Our activities put us at the heart
of the global economy – we work
with governments, state-owned
companies and leading
multinationals. We conclude
over 4,000 shipping fixtures
and trade more than 370 million
metric tonnes annually.
Our global network supports our
trading activities. Trafigura operates
in 38 countries on six continents.
Each of our offices has access to the
knowledge, resources and support of
the Trafigura Group. We continually
invest in systems and processes that
equip us to operate effectively in
complex markets.
We have developed world-leading
logistics capabilities that allow us
to source, store, blend and deliver
commodities reliably and efficiently
anywhere in the world.

371.1 mmt
Combined volume of
commodities traded

4,190
Shipping and chartering
fixtures in 2018

A LPG vessel sailing through the Panama Canal.

 Trafigura Corporate Brochure 2019 15

Exporting mineral concentrates

from Peru
Impala Terminals has invested over
USD180 million in its export facility
in Callao, Peru, to become a leading
regional terminal for the receipt,
storage, handling and laboratory
testing of mineral concentrates.
The 175,000m2 covered warehouse with
direct rail access and onward conveyor
belt connection to a dedicated deep-sea
loading berth at the port of Callao is the
largest and most modern facility of its
kind for the mining sector in Peru.
From meeting the highest environmental
standards to cutting-edge technology,
our operations in Callao have brought
exceptional quality, high-speed delivery
Impala Terminals’ state-of-the-art covered mining export facility, Callao, Peru. and reliability to our customers.

Shipping US crude worldwide

Trafigura’s exclusive commercial rights at
Buckeye Texas Partners Corpus Christi
terminal on the Texas Gulf Coast position
us as a key player in the burgeoning US
crude export market.
The terminal has approximately 7 million
barrels of storage capacity for liquid
petroleum products, including a refrigerated
and compressed LPG storage complex,
pipeline connectivity for receiving crude oil
and condensate production from the
Permian Basin and Eagle Ford shale, five
vessel berths, including three deep-water
berths capable of accommodating most
Suezmax class tankers, and three
condensate splitters with a combined
capacity of 100,000 barrels per day. It also
includes one of the largest refrigerated LPG
storage facilities in the US.
We have negotiated long-term agreements
with major pipeline companies to transport
crude and condensate from Eagle Ford,
one of the most prolific and profitable
shales in the US.
Our global network allows us to place
barrels from US customers with
counterparties around the world – from
as near as the Caribbean and Latin America
– to as far afield as China.

7.3 m
Barrel storage capacity for
oil and petroleum products Crude oil vessel at Corpus Christi, Texas, US.
16 Overview How we add value

Logistics and
infrastructure
We create and develop active
trade routes. Where infrastructure
does not exist, we build it. If it is
already there, we invest to
improve it.
We have built a global business in
pursuit of one basic task – advancing
trade. We approach that single
mindedly, bringing all our energy and
resources to bear.
Our strategically located
infrastructure gets our customers
closer to global markets. We invest
in ports, terminals and logistics to
enhance our physical trading
activities. We build warehouses
and storage facilities, operate and
utilise truck and barge fleets,
purchase and charter ships, and
develop mines – putting in place
top-class systems – to enhance
trade flows.

Impala Terminals and Mubadala’s Porto Sudeste iron ore export facility, near Rio de Janeiro, Brazil.
 Trafigura Corporate Brochure 2019 17

Creating multimodal logistics

in Colombia
Impala Terminals’ USD1 billion investment
in Colombia has transformed 640
kilometres of the Magdalena River into a
multimodal logistics corridor, with 101
double-hulled, dry and wet cargo barges to
transport oil and other liquid bulk products,
containers, coal and other commodities to
and from key areas of production and
consumption in the heart of Colombia with
the main Colombian ports on the Caribbean
Sea. A purpose-built 550,000m2 river port
at Barrancabermeja, with over
850,000 barrels of storage capacity for
crude oil and naphtha is a consolidation
hub, connecting river and road cargoes.

101
Double-hulled cargo barges

850,000
Barrels of oil storage capacity
for crude and naphtha

Impala Terminals’ barge operations on the Magdalena River, Colombia.

Increasing our state-of-the-art,

fuel efficient fleet
In 2018 Trafigura handled 4,190 wet
and dry fixtures thereby maintaining its
position as a global significant charterer.
We are building on our substantial
chartered wet and dry freight fleet by
adding new-build crude oil and
product tankers as well as gas carriers.
From early 2019, Trafigura’s Wet Freight
Shipping book will start to take delivery
of 35 new tankers constructed in
South Korea and China on a bareboat
charter basis in addition to four Very
Large Gas Carriers. These will supplement
our current portfolio of leased ships
and will enable us to continue to realise
the full value of our cargo infrastructure.

39
New tankers and gas carriers
Hyundai Samho shipyard, South Korea, where a number of the new vessels have been built.
18 Overview How we add value

End-to-end
service
We configure our business around
customers’ needs. Our services add
value at every stage of the chain.
Trafigura is privately owned and fully
independent. We cherish that status
which has real business benefits and
keeps us focused on our customers’
needs. We work to develop strong,
mutually beneficial relationships with
our customers by fully understanding
and meeting their needs.
We access hard-to-reach locations
and offer technical advice and
financial support. We build
infrastructure and devise logistics
to streamline and simplify
transportation. We operate at
scale through state-of-the-art
terminals. We deliver on-time,
on-spec commodities wherever
they are needed.

Case study:

Moving copper
concentrates
Source Transport Store
from Peruvian Trafigura Peru buys copper Impala Terminals provides Impala’s Callao
concentrate from more than logistical solutions all the way warehouse is the
mines to global 150 small, medium and large
Peruvian mines. It agrees
from the mine’s doorstep.
Concentrates travel by truck
world’s largest
roofed mineral

markets long-term financing structures,

and utilises price risk hedging
and by rail to the warehouse at
Callao, Peru’s largest port.
export blending and
storage terminal.
tools, technical support and
logistical solutions to secure
stable supplies and enable its
customers to focus on their
core activity.
www.trafigura.com/arbitrage
 Trafigura Corporate Brochure 2019 19

Impala Terminals’ state-of-the-art export facility, Callao, Peru.

Blend Load Ship Process Source Deliver

Impala blends Blended The chartered vessel Smelters treat and Trafigura buys Trafigura sells
multiple deliveries concentrate is conveys the refine the copper copper cathodes copper cathodes
to meet the transferred via a concentrate to concentrate into from smelters. in domestic and
specification and two-kilometre, copper smelters copper cathodes. international
quantities required Impala co-financed, around the world. markets. Copper
by its global conveyor belt to a end-users include
customers. berthed vessel cable, tube and
chartered by strip producers.
Trafigura’s Shipping
and Chartering
Division.
20 Overview How we add value

Financial
strength and
expertise
Our business model is
resilient, even in the most
volatile market conditions.
Trafigura’s strong balance sheet,
commitment to the industry and
infrastructure assets give us scope to
support our counterparties with
prepayment agreements, tolling
arrangements and alternative
forms of financial support.
We maintain lending arrangements
with over 137 banks.
Our business model prioritises
resilience and prudent risk
management. We have the financial
capabilities and expertise to operate
effectively in volatile markets. In our
25-year history, we have grown
accustomed to industry cycles and
built a profound understanding of
our counterparties’ needs.
We systemically hedge price risks.
We have systems and procedures
in place that allow us to manage
complex combinations of operational
and financial risk.

137
Financing banks

$58 bn
Total financial lines
 Trafigura Corporate Brochure 2019 21

Day to day life in Trafigura’s Singapore office.

Assisting clients with

financial solutions
Commodity producers use prepayment
structures to obtain liquidity and gain
access to a wide range of financial partners.
Trafigura is one of the trading industry’s
leading providers of financial solutions for
its clients; we arrange financial support
between USD500,000 and USD5 billion,
from 30 days to 5 years, in wide-ranging
jurisdictions across the world for any
commodity that we trade. Our goal is to
handle the commodity flows, while being a
conduit for the financial solution.
We monetise the future production of
commodities for producers and processors.
We leverage our extensive banking and
insurance industry relationships to
underwrite and syndicate prepayment
facilities. Our proven track record attracts
collaboration from both commodity
producers and financial supporters.

Loading copper concentrates, in Kolwezi, DRC.

22 Overview How we add value

Responsibility
Our focus is on growing prosperity
and building long-term
sustainable value. We are
committed to operating our
business in a responsible way.
Responsible trade drives economic
progress and strengthens society.
We are leveraging our experience
and expertise to embed
responsibility in our business and
across the sector.
Taking this approach makes
commercial sense. Our business
involves the transportation of
millions of tonnes of materials
across multiple geographies.
The decisions we make can have a
profound impact, both directly and
indirectly, on the lives of thousands
of people. Our long-term prosperity
depends on our ability to limit our
operational impacts and make a
continued and constructive
contribution to the advancement
of responsible trade.
Maintaining high standards is a
prerequisite. We have adopted a
rigorous framework to minimise
and mitigate negative impacts for
people and the environment.

$93.6 bn
Value of crude oil, products and gas
purchased from State Owned Enterprises
between 2013 and 2017

1.7 bn
Barrels of crude oil, products
and gas purchased from State Owned
Enterprises between 2013 and 2017
 Trafigura Corporate Brochure 2019 23

Day-to-day formalised semi-mechanised operations at the Mutoshi cobalt mining concession, Kolwezi, DRC.

Building transparency
and trust
Transparency comes in many forms – from
being open about financial performance,
to driving deeper stakeholder engagement,
to improving monitoring and reporting
within the organisation and across our
supply chain.
As a major facilitator of global trade, we
believe that natural resource wealth should
contribute to sustainable development and
poverty reduction. Being open about how
we manage natural resources in countries
where we operate gives their populations
the tools to hold governments and business
to account.
This was the motivating factor in 2014
when Trafigura became the first
independent commodities trading company
to declare its support for the Extractive
Industries Transparency Initiative (EITI).
EITI is a leading force in the global drive
for open and accountable management
of natural resources. Over 50 countries
worldwide are involved in the
implementation of the EITI standard.
We work closely with the EITI to extend
transparency for global commodity trading
by developing best practice and introducing
common international disclosure standards
across our industry.

Catalina Huanca copper, lead and zinc mine in Peruvian Andes.

24 Overview How we add value

Industrial
assets and
investments
We invest in companies and
infrastructure that streamline
and simplify supply chains.
We buy and build terminals,
storage, production and
processing facilities.

Puma Energy
Puma Energy is a global oil and petroleum
products distribution company backed
by strong infrastructure resources.
It is active in 49 countries on five
continents. The company manages over
24 million m3 of fuel through its network
of 105 terminals, 83 airports and more
than 3,130 service stations.
Impala Terminals A number of Impala Terminals’ operations Puma Energy is an important downstream
are operated as joint ventures with energy investment for Trafigura. It operates
Impala Terminals, the independently
independent investors. independently but gains synergies from our
managed multimodal logistics arm of the
access to global fuel markets. Trafigura is
Trafigura Group, focuses on export-driven The recent joint venture with IFM
the largest shareholder, owning
emerging markets. It owns and operates Investors in its Paraguayan, Peruvian,
49.3 percent of the company.
ports, terminals, warehouses and transport Mexican and Spanish assets and the global
assets which offer end-to-end logistics freight forwarding and logistics business Puma’s unique business model focuses on
solutions for dry and liquid bulk cargoes, unit will provide Impala with even stronger international reach and downstream
general cargo, and containers, both for financial stability. delivery. It integrates fuel supply structures
Trafigura and third-party clients. and invests in infrastructure to maximise
The synergies afforded by this partnership
opportunities in high-growth markets.
Impala has particular expertise in providing will also allow Impala Terminals to explore
efficient logistic solutions in challenging new business opportunities and to grow its www.pumaenergy.com
environments and hard-to-reach locations. global footprint.
It combines strategically located At scale and across the world, Impala has
infrastructure with multimodal logistics to the capabilities and the people to forge
streamline supply chains and promote safe, reliable and cost-effective links
global trade. between commodity producers and
Its logistics solutions across Africa, Latin end-users.
America and Spain integrate barge, truck, www.impalaterminals.com
rail, storage and direct-berth access.
 Trafigura Corporate Brochure 2019 25

Trafigura Mining Group Nyrstar Terrafame

Trafigura Mining Group manages mining Trafigura is the largest single shareholder Terrafame is a Finnish multi-metal
operations, develops projects, conducts in Nyrstar with a holding of 24.4 percent. company producing nickel, cobalt
technical audits of existing and potential Our minority stake in the leading metals and zinc using the environmentally
projects and provides advisory and support processing group supports our expanding sustainable bioheap leaching technology
services to the rest of the company. zinc and lead business. at its mine in Sotkamo, Finland.
Its main operations are in the Caribbean, Nyrstar has a market leading position in Galena Asset Management, our
Europe and Latin America. The Group lead and zinc and growing positions in investment subsidiary, identifies real
operates the Catalina Huanca mine in Peru other metals. It is the world’s second asset opportunities and makes them
and is active in Brazil and Cuba. largest smelter of zinc metal, producing available to external investors through
Minas de Aguas Teñidas (MATSA), the over 1 million tonnes annually. appropriate structures. About 70 percent
Group’s flagship mining operation, is owned Our financing, offtake and distribution of the assets managed by Galena come
in a joint venture with Abu Dhabi-based arrangements have helped to strengthen from institutional investors.
investment and development company the company’s business model. Its acquisition of a substantial interest
Mubadala. MATSA produces copper and The two companies conduct business in Terrafame is helping to finance an
polymetallic ore on the Iberian Pyrite Belt dealings on an arm’s length basis on normal ambitious investment programme for
in Spain’s southwestern region of Andalusia. commercial terms. Long-term purchase and the company. It is supplemented by
www.trafigura.com/mining-group sale arrangements maintain continuity of loan finance from Trafigura and
supply for Trafigura and allow Nyrstar to Sampo Plc.
leverage its strong marketing presence. In 2020 Terrafame plans to open a new
www.nyrstar.com production plant supplying battery
chemicals for electric vehicles. Using
Trafigura’s global marketing expertise
this will offer a shorter, more
sustainable supply chain for vehicle
battery producers.
www.galena-invest.com
www.terrafame.com
26 Overview How we add value

Strategic
alliances
Strategic alliances with selected
counterparties extend the scope
of our activities.
Financial institutions invest
alongside us. Industrial operators
contribute complementary skills
and resources.

Exporting Brazilian iron ore The privately owned MRS railway provides
Porto Sudeste, the flagship iron ore port direct access from the Minas Gerais region.
facility on the south-eastern coast of Brazil A wagon tippler at the terminal unloads
is a vital international gateway for miners train carriages automatically. From there
in the country’s iron ore quadrangle. conveyor belts transfer the product to a
The 50 million tonne capacity facility 2.5 million tonne storage facility and on
south of Rio de Janeiro in Brazil is jointly to a 20-metre depth mooring berth, which
controlled by Impala Terminals and can accommodate two capesize vessels
Mubadala Investment Company. simultaneously and has two 12,000 tonne
per hour shiploaders ready to handle
Porto Sudeste’s multimodal logistics are port-to-ship transfer.
forging new global trade routes for
independent miners through transportation
and scale efficiencies.

Mining concentrates in Spain The newly opened Magdalena mine

The Minas de Aguas Teñidas (MATSA) yields exceptionally rich copper
mining complex is one of Spain’s concentrate deposits.
largest mining operations. In 2015, The MATSA mining operation links to
Trafigura and co-owners Mubadala Impala Terminals’ state-of-the-art logistics
invested EUR220 million in a and warehousing at the Spanish coastal
two-year expansion programme. port of Huelva. We are optimising
Major new deposits and a second treatment production and implementing effective
plant have nearly doubled production health, safety and environmental (HSE)
capacity to 4.4 million tonnes annually. procedures to give MATSA one of the
A brand new mine, the first in Spain for lowest break-even production costs in the
decades, came onstream in 2016. global copper mining industry.
 Trafigura Corporate Brochure 2019 27

Smelting copper in China The commercial collaboration brings

Trafigura was the first international trading together two companies with
firm to make a major co-investment in a complementary strengths. Majority
Chinese domestic smelting business. stakeholder Jinchuan Group is China’s
Our 30 percent stake in one of the third-largest copper producer. Its heartland
largest standalone copper smelters, is in the north-west of the country, from
a 400,000 tonne per annum facility in where it serves the domestic market.
Guangxi province on the country’s Trafigura’s global network and trading
south coast, is linked to a multi-year expertise adds international suppliers,
commercial agreement. Trafigura now diverse financing and lower costs.
supplies 30 percent of its concentrates
and offtakes 30 percent of its copper
cathode production.

Refining oil in India country and more than 2,700 outlets at

Trafigura’s 24.5 percent stake in India’s various stages of completion.
second largest private oil refiner Nayara Energy’s refinery is situated at
strengthens the Group’s presence in Vadinar on India’s west coast. It is
one of the world’s fastest growing strategically located on shipping routes to
energy markets. major demand centres in the Far East and
The 2017 acquisition of a 49 percent stake near Middle East sources of production.
in Nayara Energy (formerly Essar Oil The refinery’s fully integrated infrastructure
Limited), as part of an investment includes pipelines, tankage and its own
consortium with UCP Investment Group dedicated power plant, as well as
together with Rosneft, included a 20 million multimodal dispatch via rail, road and sea.
tonne per annum super-refinery, world-
class storage and import/export facilities,
over 5,000 retail service stations across the
Trafigura Group Pte. Ltd.
10 Collyer Quay #29-00
Ocean Financial Centre
Singapore 049315
Email: enquiries@trafigura.com
www.trafigura.com
TI/0275.1e

Printed by Pureprint on Vision Superior which is FSC certified.

Pureprint is certified to ISO 14001 environmental management system, is registered to EMAS the Eco
Management Audit Scheme, is a Carbon Neutral Company and has been awarded the Queen’s Award
for Enterprise: Sustainable Development.
Designed and produced by Group Charlescannon Sàrl.
Photography by: Charlescannon, Marcus Almeida, Hyundai Samho Heavy Industries, Nyrstar, Terrafame, Nayara Energy