Glencore expects as much as $1bn for Australia coal trains

March 17, 2016

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Glencore Plc said on Thursday it has put its coal trains in Australia up for sale, hoping to fetch as much as A$1.5-billion ($1.1-billion) as it taps into a hot market for infrastructure to cut debt.

The Swiss-based mining and trading giant is looking to slash net debt this year by around $8-billion to help it weather what is expected to be a prolonged downturn in all its commodities markets.

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