PRESS: Glencore considers selling assets in DR Congo and Kazakhstan
Glencore PLC is considering selling two multi-billion-dollar assets, in the Democratic Republic of Congo and Kazakhstan, to streamline the business and generate cash for shareholder returns, the Financial Times reported on Wednesday.
Decisions on the asset disposals, involving copper-cobalt and zinc and gold mines will be made early in 2027, Chief Executive Officer Gary Nagle told a private meeting of investors hosted by investment bank Goldman Sachs, the FT said.
Selling the assets would bring in several billion dollars to Glencore, the newspaper said, contributing to what Nagle told the investors will be a banner year for cash returns to shareholders.
The disposals also would create a more streamlined business that would be easier to combine with another miner, one investor at the meeting said of Nagle's comments, the FT said.
The Switzerland-based miner and commodities trader is scheduled to provide a trading update on Thursday. Its shares were flat at 541.70 pence on Wednesday morning in London.
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