01.03.2016 - The Glencore plans to reduce debt
The third largest in the world mining giant Glencore announced its intention to reduce the amount of debt to 17-18 billion dollars this year against a previous target of 18-19 billion dollars. It is worth noting that last year, the company's loss totaled 5 billion dollars amid falling commodity prices, but the level of indebtedness of the company for the same period decreased by 15% to 25.9 billion dollars. Sale of the company's assets will be the main source for reducing the debt burden of the company. From the beginning of the year, the value of shares increased by 47%, on expectations of the company's financial recovery. We expect a continuation of positive dynamics, but there is a high probability of correction of price by 10-15% after a strong growth.