You are here

Don't be fooled by commodity rally: Many producers still face debt cliff

To end the glut firms should cut output, but many are so debt-ridden they must keep churning cash to stay afloat
Thursday, March 10, 2016 - 05:50

BT_20160310_DNRALLY10_2158166.jpg
Freeport-McMoRan, the largest publicly traded copper producer, said it is looking to cut its US$20 billion debt to US$10 billion through multiple transactions.

Toronto

IF you think commodity producers are out of the woods as markets rally, here's a reality check: many are still grappling to contain debt.

Another year of belt-tightening hasn't kept pace with an earnings slump after prices collapsed. One gauge of leverage among mining,

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom