Alkagesta Enters Metals Trading with Launch of Alkanavex Joint Venture

Malta-based commodity trading house Alkagesta has partnered with French steel merchant Navex SAS to launch Alkanavex, a joint venture dedicated to physical steel trading. Established in Malta, the new corporate entity marks Alkagesta’s formal entry into the metals trading sector, broadening its commercial footprint beyond its established energy, agricultural, and industrial supply lines. Alkagesta holds a majority equity interest in the venture, according to company announcements reported by Malta Today and The Malta Independent.

The formation of Alkanavex concludes a two-year preparatory phase during which both commodity houses coordinated their commercial strategies, operational standards, and risk compliance systems. Both trading groups confirmed that the commercial agreement is finalised, with the partners now completing the requisite legal formalisation steps while implementing operational integration across their respective commercial teams.

The strategic diversification into steel comes as commodity merchants increasingly target industrial materials tied to global infrastructure development, industrialisation, and electrification programmes. Alkagesta aims to use the joint platform to expand beyond its traditional physical supply operations in petroleum products, fertilisers, and biofuels, embedding metals into its core trading operations through governed commercial models and structured risk management.

Sourcing Corridors and Distribution Networks

Navex SAS, which was founded by trading industry executives who each hold more than 25 years of individual sector experience, provides the joint venture with established steel supply arrangements and regional commercial relationships. The French firm sources the majority of its steel product volumes out of China, the world's largest steel-exporting nation, and channels deliveries to established corporate buyers across developing markets in West and East Africa.

The French partner is headed by Chief Executive Officer Jean-Pierre Artigala, an industry veteran with over five decades of executive experience across international steel manufacturing, global sourcing, and export sales. Artigala previously held senior commercial and operational positions at major European steel concerns, including Usinor/Sacilor—which later became part of ArcelorMittal—as well as Fercometal and Descours & Cabaud, managing cross-border transactions across Europe, North America, Brazil, Africa, the Middle East, and China.

Alkagesta's Physical Trading Infrastructure

Established in Malta in 2018 by its management team, Alkagesta operates as a privately held trading group where senior executives retain significant equity ownership. The enterprise employs more than 150 industry professionals across a network of 17 offices and international representations. The merchant maintains active banking relationships with 28 international financial institutions and executes cross-border physical commodity trades across 42 countries worldwide.

Across its core operations, Alkagesta handles more than 7 million metric tons of commodity flows on an annual basis. The group’s physical supply capabilities are supported by contracted access to more than 700,000 cubic metres of dedicated storage capacity situated across strategic logistics hubs in Europe and Asia. Alongside its primary activities in refined oil products, fertilisers, and biofuels, the company selectively conducts spot market trading in petrochemicals, agricultural commodities, and metals.

Commenting on the transaction, Alkagesta Chief Executive Officer Orkhan Rustamov indicated that entering steel and metals represents a natural progression for the business when supported by prudent risk parameters and strong corporate governance. Navex CEO Jean-Pierre Artigala stated that the partnership provides his firm with access to Alkagesta’s balance-sheet backing, governance structure, and global reach, allowing the venture to pursue sourcing synergies and expand trade routes into African end-markets.

Sources

- Malta Today, “Alkagesta expands into metals trading through strategic partnership with Navex”, 2025-11-12 — www.maltatoday.com.mt

- Malta Independent, “Alkagesta and Navex launch Alkanavex joint venture to enter metals trading”, 2025-11-12 — www.independent.com.mt

Reporting above was originally published by the outlets listed. Pure Crude Trading paraphrased and verified the material; the illustration is original AI-generated artwork and is not a photograph of the events described.