Similarly,
Glencore weighed its operations coal:
Keystone-SDA
Glencore accused a net loss of $ 665 million (535 million francs) over the first six of the year (535 million dollars. Nevertheless, The Béhémoth of raw materials has largely attributed the disbursement to a damping on its activities in the coal.. Nevertheless,
(Keystone-ATS) The damping on activities in coal in Colombia, a reflection of an overabundant offer, went up to nearly $ 900 million, said the Zugois giant on Wednesday.
Turnover, for its part, remained stable at glencore weighed its operations coal 117.40 billion dollars. The 14% contraction of the gross operating surplus (EBITDA) adjusted, at 5.43 billion, is based on low charcoal prices and a drop in copper production, in particular.
The surplus of the trading was eroded by 8% to $ 1.36 billion, when that of mining and refining activities fell from 17% to 3.76 billion.
Without advancing in terms of operating forecasts on the operational level for the entire financial year. the Multinational Baar is counting on the product of the sale recently concluded with the Missourian giant of the oilseeds Bunge of its shares in the operator of agricultural raw materials Viterra to supply the remuneration of its shareholders.
The transaction caused some $ 900 million in liquidity in early July, in addition to a participation of 16.4% in Bunge, currently valued up to 2.63 billion. Glencore recalls that it has in the process noted its ambitions announcing in the medium glencore weighed its operations coal term in terms of an EBIT adjusted for its trading activities. in a corridor of 2.3 to 3.5 billion, instead of the 2.2 to 3.2 previously articulated.
The management indicates that it has identified for a billion potential savings. compared to the cost base in 2024, which it intends to achieve up to more than 50% over the current year and complete on the next. An acceleration expected in copper extraction. the said savings must make it possible to generate “healthy” cash flow and, therefore, to lighten the burden of debt.
The latter represented commitments at the end of 14.47 billion, against 11.17 billion six months earlier.
Glencore weighed its operations coal
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