Futures & Commodities

Glencore says on track to cut debts, beats asset sales guidance

Glencore said on Thursday it had sold assets worth $6.3 billion this year, compared with previous guidance of $1-2 billion, and its debt reduction plan was nearly completed.

It said its earnings before tax and interest from its marketing unit should be at the higher end of a previously announced range of $2.5 billion to $2.7 billion.

"We have delivered on our commitments and done so in a way that has preserved the long-term earnings capability of the group," CEO Ivan Glasenberg said in a statement.

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