Glencore’s shareholders reject plans to unbundle coal and carbon steel business
07 August 2024 - 09:52
UPDATED 07 August 2024 - 23:08
More than 90% of Glencore’s shareholders have rejected the company’s plans to unbundle its coal and carbon steel business, essentially telling it to use windfalls from coal to fund its just transition plans and return excess cash to shareholders.
Glencore last year outlined plans to spin off its coal business, after acquiring the metallurgical coal business of Canadian company Teck, known as Elk Valley Resources, for $6.9bn...
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