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Glencore’s 2012 profit hit by lower commodities prices

Posted on 06 March 2013

Glencore’s net income fell by a quarter last year due to lower prices for commodities, but it made more money from trading so did not suffer as much as some rivals. That modest drop was important as Glencore is just a month away from its takeover of miner Xstrata – which will make it the world’s fourth-largest diversified mining company.
The company said nothing about what assets it might dispose of after the merger. The market has been keenly awaiting a roadmap for the combined Glencore-Xstrata and had hoped that Glencore would expand on its post-takeover strategy as it announced the latest results………………………………………..Full Article: Source


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