Glencore's next step seens $1 billion gold, silver deal
Glencore Plc is seeking to raise more than $1 billion by selling
future production of gold and silver as it works to stave off criticism
over its debt load, according to two people familiar with the situation.
The
company wants to raise money in a so-called precious metals streaming
deal linked to some of its mines in South America, according to the
people, who asked to not be identified because the talks with potential
buyers are private. The transaction is part of Glencore’s broader
restructuring to reduce its $30 billion debt pile by about a third and
bolster its finances to withstand a continuing slide in commodities.
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