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To cut debt, Glencore will assign future Chilean gold production to Franco-Nevada
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
http://www.theaustralian.com.au/business/companies/glencores-streaming-p…
Glencore is set to unveil a deal to bring in at least $500 million as part of its frantic efforts to slash its debt.
The commodities giant is in advanced talks on a “streaming” deal under which it would hand future precious metal production from a mine in Chile to American gold specialist Franco-Nevada in exchange for an upfront payment. The agreement could be unveiled as early as this week.
It is part of a $13 billion fundraising campaign that Glencore launched last year to scotch concerns over its $30 billion net debt.
Glencore shares plunged 70 percent last year, making it the worst-performing stock in London’s FTSE 100 after rival Anglo American.
Miners and oil companies have been hit hard by the collapse in global raw material prices after a decade-long commodities boom came to a halt.
The post To cut debt, Glencore will assign future Chilean gold production to Franco-Nevada appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/02/08/to-cut-debt-glencore-will-assign-future-chilean-gold-production-to-franco-nevada/
