Glencore to Buy More Coal as Prices Drop

Mineweb reported that Glencore Plc (LSE:GLEN) is scouting to buy more coal mines by taking advantage of the soft market and to establish its position for future growth.

As quoted in the market news,

While a 19 percent drop in thermal coal prices in the past twelve months has prompted Glencore, the world’s top seaborne trader of thermal coal, to cut exports by 15 million tonnes this year, it is this same downturn that is presenting opportunities for acquisitions.

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