Glencore To Announce Decision on Potential Coal Demerger Next Week

Glencore expects to announce next week its decision on whether it would spin off its coal and carbon steel materials business, the mining and commodity trading giant said on Tuesday. Earlier this month, after receiving the final regulatory approval for the acquisition of Elk Valley Resources (EVR), the coal business of Teck Resources, Glencore said that “we will shortly commence a consultation process to assess shareholder views regarding the potential demerger of the combined coal and carbon steel materials business.”   In Glencore’s…