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Glencore flags sale of some Australia, Chile assets

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Glencore said on Monday it would make an announcement on the proposed sale of some assets in Australia and Chile, as it sought a trading halt for its Hong Kong-listed shares.

[MELBOURNE] Glencore said on Monday it would make an announcement on the proposed sale of some assets in Australia and Chile, as it sought a trading halt for its Hong Kong-listed shares.

The trading and mining giant's Australian spokesman had no immediate comment on the assets that were to be sold.

Glencore has been racing to raise money to cut its US$30 billion in net debt by about a third and has cut production of coal, copper and zinc to help it ride out a slump in commodity prices and shore up its share price.

REUTERS