Glencore nears end of debt reduction after 200% share rally

The move to restart dividend payments marks a sharp shift from a year ago when the miner-cum-trader was grappling with a debt crisis and under attack from hedge funds, which saw betting again the company as easiest way to make money from a commodity market crash.

Boosted by a rebound in commodity prices and $4.7bn of assets sales, Glencore’s financial position has improved and the company is set to end the year with net debt of $16.5-$17.5bn, down from $23.6bn in June.

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