[miningmx.com] – GLENCORE Xstrata posted a 39% decline in net income to $2.04bn for the first half of its financial year, and said it was scrutinising its capital plans and those inherited following its takeover of Xstrata last year.
“We remain focused on the disciplined allocation of capital as well as robustly scrutinizing all pre-existing capital plans of the enlarged entity,’ Bloomberg News quoted Glencore Xstrata CEO, Ivan Glasenberg, to have said.
The group, which is the largest exporter of coal, also wrote down assets to the tune of $7.7bn.
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