[miningmx.com] – GLENCORE had no solvency issues and that it was strong enough to ride out the difficult commodity markets, said Reuters citing the Swiss firm’s management in an article republished by BDLive.
“We have positive cash flow, good liquidity and absolutely no solvency issues,” a company spokesman said in a statement. “Glencore has no debt covenants and continues to retain strong lines of credit and secure access to funding.”
The shares had plunged on Monday wiping about £3.5bn from Glencore’s market value on fears the group was not doing enough to cut its $30bn debt pile as commodity prices tumbled, said Reuters.
Click here to read the full article
