Cutting debt: Glencore CEO Ivan Glasenberg said in August that the world’s biggest commodity trader was focusing on cutting debt and returning money to shareholders. — Bloomberg
Johannesburg: Glencore Plc will increase its share buyback program by as much as US$1bil, adding to a growing number of moves by the world’s biggest miners this year to return more money to investors.
The announcement comes less than a week after No. 2 miner Rio Tinto Group announced a US$3.2bil share buyback following an asset-sale spree.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
