Alkagesta Enters Metals Trading with Navex Joint Venture

Alkagesta, a prominent global commodity trading house, has announced its formal entry into the metals trading sector through the formation of a new joint venture. Named Alkanavex, the Malta-based entity was established in partnership with Navex SAS, a French steel trading company.

This strategic move positions Alkagesta to expand its portfolio beyond its established activities in petroleum products, fertilisers, and biofuels. The initial focus for Alkanavex will be on steel, a commodity central to global construction and manufacturing industries.

Alkanavex combines Alkagesta's extensive global trading infrastructure, logistics capabilities, and governance frameworks with Navex's specialised market knowledge and operational history. Alkagesta will hold a majority stake in the new joint venture.

The collaboration follows two years of close alignment between Alkagesta and Navex on operational, governance, and commercial models. The legal formalisation and operational integration processes for Alkanavex are currently underway.

Navex contributes a network of sourcing relationships, primarily in China, and established client bases across West and East Africa. Jean-Pierre Artigala, Chief Executive Officer of Navex, brings over five decades of experience from senior roles within the steel industry, including with major European and international steel groups.

Alkagesta, founded in Malta in 2018, operates internationally with 17 offices and representations. The company manages over 7 million metric tons of commodity flows annually across 42 countries, supported by partnerships with 28 international banks and access to over 700,000 cubic metres of storage capacity in Europe and Asia.

This expansion into metals trading aligns with Alkagesta's long-term strategy to diversify its offerings and build an integrated trading platform. The company emphasises prudent risk management, compliance, and corporate governance practices within its operations.

Both companies anticipate that Alkanavex will leverage their combined strengths to develop resilient supply corridors and provide reliable service to industrial clients, particularly in regions experiencing economic and infrastructure growth.

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