Top producer Glencore slashes zinc output by a third
Mining giant Glencore
Geneva - Arab Today
Mining giant Glencore, weighed down by debt as it struggles against a commodity price crash, announced Friday it is slashing its worldwide output of zinc by one third.
"The main reason for the reduction is to preserve the value of Glencore’s reserves in the ground at a time of low zinc and lead prices, which do not correctly value the scarce nature of our resources," the miner said in a statement.
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