Glencore Xstrata cuts capex 15.6% for 2013-15
Sep 10, 2013 | 02:30 PM
| Claire Hack
LONDON Glencore Xstrata Plc has reduced its total capital expenditure for 2013 to 2015 by 15.6 percent to $26 billion, it said at its investor day presentation Sept. 10.
The trader-miner expects its sustaining capex to be $4 billion per year, at the lower end of its previous guidance of $4 billion to $5 billion per year.
Glencore Xstratas initial industrial asset portfolio review has been completed, and its underlying capex for 2013-15 has been reduced by $1.3 billion.....
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