4th May 2016 05:25
BRUSSELS (Alliance News) - Commodities giant Glencore PLC is considering to sell its stake in a gold mine in Kazakhstan, a deal that could raise as much as USD2 billion, the Financial Times reported citing a person familiar with the plan.
The sale of Glencore's 70% stake in the mine would help the company pare down its near-USD26 billion net debt load. Earlier this year, Glencore agreed to USD1.4 billion in so-called streaming deals to deliver gold and silver from mines in Peru.
A sale of the Vasilkovskoye mine stake isn't guaranteed, the report said.
Copyright RTT News/dpa-AFX
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