Proposed sale of sites in Australia and Chile is commodity trader’s latest move to shrink its $30bn mountain of debtGlencore has announced plans to sell copper mines in Australia and Chile as the embattled commodity trader and miner seeks to reduce its debts.
Asset sales are section of Glencore’s plan to nick $30bn (£20bn) of net debt by a third after a slump in the price of commodities it trades and mines. It has suspended its dividend, raised $2.5bn by selling shares and halted operations at two African mines. Related: Glencore slashes zinc production and jobs Continue reading...
Source: theguardian.com