UPDATE 2-Glencore to sell copper mines in Australia, Chile

lunes 12 de octubre de 2015 04:06 GYT
 

* Glencore receives interest from potential buyers

* Asset sales part of plan to cut debt

* FACTBOX of Glencore assets:

* Graphic of assets map: link.reuters.com/vej75w (Adds more details, analyst comment, shares)

By Olivia Kumwenda-Mtambo and Sonali Paul

LONDON/MELBOURNE, Oct 12 (Reuters) - Glencore plans to sell copper mines in Australia and Chile as the mining and trading company aims to reduce a debt burden accumulated in an asset buying spree that has shaken confidence in the Swiss-based firm.

Selling assets is one element of a broad plan to cut about a third of Glencore's $30 billion net debt and to regain the trust of investors after its shares tumbled to record lows this year amid weak global commodity prices.

Glencore said it would sell its wholly-owned Cobar copper mine in Australia and Lomas Bayas copper mine in Chile after receiving interest from potential buyers.

"This will allow potential buyers to bid to purchase either one or both of the mines and may or may not result in a sale," Glencore said in a statement on Monday.   Continuación...