Glencore (GB:GLEN) has released an update.
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Glencore PLC has decided to retain its coal and carbon steel materials business after consulting shareholders, who overwhelmingly supported the move, citing enhanced cash generation and shareholder returns. This decision aligns with Glencore’s climate transition strategy and responsible thermal coal decline, with the option for a future demerger remaining open should circumstances change. The company’s financial framework has been adjusted with a new net debt cap of around $10 billion, excluding marketing related lease liabilities.
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