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Glencore on track to cut debt; suffers coal hedging loss

Mining company to sell a stake in its Ernest Henry copper mine in Australia to Evolution Mining for A$880m
Thursday, August 25, 2016 - 05:50
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"We have already largely achieved our asset disposals target of US$4-5 billion with a diverse and material pool of asset sales' processes also ongoing," said Mr Glasenberg.
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"We have already largely achieved our asset disposals target of US$4-5 billion with a diverse and material pool of asset sales' processes also ongoing," said Mr Glasenberg.

London

GLENCORE said it expected to exceed a previous target to cut debt but it took a nearly US$400 million hit from a bad bet on coal and echoed warnings voiced by mining rivals of volatile commodity markets.

Along with Anglo American, Glencore was among the companies worst

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