Glencore faces obstacle in plan to sell assets

Downtrend: Glencore’s logo is seen in front of its headquarters in Baar, near Zurich. Glencore’s shares have continued to plummet, losing more than three quarters of their value since March. — Reuters

SYDNEY: The biggest obstacle to any plans by Glencore Plc to widen its asset sale programme after this week’s record share plunge may be the company’s own expectations.

Even some of the jewels in the commodity trader and miner's portfolio - the Australian coal and South American copper mines that so far aren’t for sale - would be out of reach of potential buyers, according to CRU Group and Pengana Capital Ltd.