Glencore To Announce Future of Coal Mining Business Next Week

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Glencore Plc News

Bloomberg,Coal Business,Teck Resources

(Bloomberg) -- Glencore Plc said it will announce whether it plans to spin off its coal business at its results next week, after completing the purchase of...

-- Glencore Plc said it will announce whether it plans to spin off its coal business at its results next week, after completing the purchase of Teck Resources Ltd.’s coal mines earlier this month.The coal business is one of Glencore’s most profitable units, driving record returns in recent years, and the plan to exit the fossil fuel and list a new company in New York represented a major strategic pivot under current boss Gary Nagle.

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