Utilize the input text as a context reference, choose the right relationship between Glencore and Baar from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

Having transformed Glencore from a poorly understood commodities trader based in Baar into one of the world's largest resources companies through the spectacular $US60 billion float four years ago and the takeover of mining group Xstrata in 2013, the hard-nosed South African was lauded as a savvy deal maker.

Answer: headquarters_location