Glencore
has announced plans to slash its $30bn debt pile by shelving dividends, selling assets and raising fresh equity, as the metals and mining behemoth wrestles with a slump in commodities that has battered its share price.
The debt plan underscores the huge pain being inflicted on the mining sector by China’s slowdown, which has driven the price of industrial commodities such as coal and copper to six-year lows.
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