Ivan Glasenberg, billionaire and chief executive officer of Glencore International Plc, speaks during a conference session on the opening day of the St. Petersburg International Economic Forum 2013 (SPIEF) in St. Petersburg, Russia, on Thursday, June 20, 2013. Russian consumer spending probably eased and investment shrank at the fastest pace since 2011, adding to evidence the 2 trillion economy is stalling. Photographer: Simon Dawson/Bloomberg Local Caption Ivan Glasenberg
LONDON: What a difference a year makes. Glencore Plc fended off questions in 2015 about its survival as commodity prices hit new lows, and now there’s talk that the company’s turnaround plan has gone so well that it could be months away from paying dividends again. Surging coal and zinc prices, a rebounding stock price and shrinking debt pile made Glencore one of mining’s biggest success stories this year.
Chief executive officer Ivan Glasenberg (pic), who will provide an update on corporate strategy tomorrow, spent the past year ticking off items outlined in a crisis-induced debt reduction plan, including a goal to sell US$4bil to US$5bil in assets.
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