Based on the first-quarter performance, trading profits this year will again beat its guidance range of $2.2 billion to $3.2 billion, Glencore said Friday.
Mining and trading company Glencore PLC, dashing to decrease its debt, is pondering how to empty assets during a period when commodity deals are going away and is considering selling its agriculture infrastructure to sovereign-wealth funds and sovereignty deals on its gold assets. Glencore, whose stock as of late has been assaulted, declared a plan in September to lessen its $30 billion net debt by $10 billion before one year from now’s over. It has accomplished about $5 billion through slicing its profit and issuing new shares and wants to accomplish another $5 billion in resource deals and cost cuts.…
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