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Glencore to cut debt further amid price plunge

Its shares have dropped 72% in London this year, and is the second-worst performer in the main index

The company has already scrapped its dividend, raised US$2.5 billion in a share sale, signed a US$900 million silver streaming deal and started talks on selling a stake in its agricultural unit.


GLENCORE plc, the Swiss commodities trader, said it will seek to cut its net debt to as low as US$18 billion by the end of next year, accelerating a programme aimed at reducing its liabilities as raw materials prices plunge.

The company is seeking to reduce its debt to