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Released December 22, 2020 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Mining major Glencore plc (Baar, Switzerland) is keeping its planned capital expenditures (capex) in check through 2023 as it deals with the COVID-19-induced recession. Even so, Glencore's outgoing chief executive officer says the industry has its work cut out for it over the next several years, as demand increases for copper, cobalt, nickel and zinc to meet the needs of a low-carbon-emissions world.
Glencore slashed its planned capex for this year to $4 billion from its initial guidance of $5.5 billion, as it sought to keep its net debt to a $10 billion-to-$16 billion target range, and to cope with the economic uncertainty posed by the COVID-19 pandemic.
Industrial Info is tracking more than $10 billion in project activity by Glencore.
To read the complete article, see the most recent edition of Industrial Info's NavigatIIR online newsletter.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Glencore slashed its planned capex for this year to $4 billion from its initial guidance of $5.5 billion, as it sought to keep its net debt to a $10 billion-to-$16 billion target range, and to cope with the economic uncertainty posed by the COVID-19 pandemic.
Industrial Info is tracking more than $10 billion in project activity by Glencore.
To read the complete article, see the most recent edition of Industrial Info's NavigatIIR online newsletter.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
