Glencore Xstrata cuts capex 15.6% for 2013-15

Sep 10, 2013 | 02:30 PM | Claire Hack

Tags  Glencore Xstrata, copper, nickel, investor day, capex, Las Bambas, Koniambo, 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 Xstrata’s 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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