Glencore Bought Jet From Bulat Utemuratov

Glencore acquired a private jet from a powerful Kazakh businessman who is a close ally of the country’s dictator.

Ivan Glasenberg’s £42bn FTSE 100 mining and trading empire bought the Gulfstream G550 from Bulat Utemuratov in 2015.

The previously undisclosed deal sheds new light on Glencore’s dealings in the former Soviet state at a time when the company is under growing scrutiny for its international activities.

Utemuratov, 61, a former chief-of-staff to President Nursultan Nazarbayev, has been Glencore’s key business partner in Kazakhstan.

He sold Glencore much of his stake in the former state-owned copper mine Kazzinc and made a fortune when Glencore floated on the London market in 2011.

Both sides declined to say at what price the jet…