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| Glencore shares halted ahead of proposed asset sale | Glencore shares halted ahead of proposed asset sale |
| (34 minutes later) | |
| Embattled mining giant Glencore has requested a trading halt of its Hong Kong-listed shares ahead of a proposal to sell some of its assets in Australia and Chile. | Embattled mining giant Glencore has requested a trading halt of its Hong Kong-listed shares ahead of a proposal to sell some of its assets in Australia and Chile. |
| The firm's statement to the Hong Kong Stock Exchange disclosed little other information. | The firm's statement to the Hong Kong Stock Exchange disclosed little other information. |
| Glencore is attempting to reduce $30bn (£19.5bn) of debt created by its 2013 takeover of Xstrata. | Glencore is attempting to reduce $30bn (£19.5bn) of debt created by its 2013 takeover of Xstrata. |
| Its Hong Kong-listed shares have also fallen some 55% this year. | |
| In Australia, the firm has 19 mining complexes across the country, including coal, copper, nickel and zinc operations, port facilities, offices, and agricultural businesses, among others. It is one of the biggest exporters of Australian grain. | In Australia, the firm has 19 mining complexes across the country, including coal, copper, nickel and zinc operations, port facilities, offices, and agricultural businesses, among others. It is one of the biggest exporters of Australian grain. |
| In Chile, Glencore owns and has stakes in several mines as well as a hydro-power project. | In Chile, Glencore owns and has stakes in several mines as well as a hydro-power project. |
| Last week, the firm announced it would dramatically cut its zinc production. | Last week, the firm announced it would dramatically cut its zinc production. |
| The move comes amid a 30% fall in the price of zinc in recent months. The company said it would cut 500,000 tonnes of zinc production - or 4% of the world's total supply. | The move comes amid a 30% fall in the price of zinc in recent months. The company said it would cut 500,000 tonnes of zinc production - or 4% of the world's total supply. |
| Most of the zinc-related cutbacks will be in Australia where more than 500 jobs will be lost, as well as South America and Kazakhstan | Most of the zinc-related cutbacks will be in Australia where more than 500 jobs will be lost, as well as South America and Kazakhstan |
| As it attempts to reduce its debt, the firm has also cut copper production, suspended dividend payments to shareholders and was issuing new shares to raise money. | As it attempts to reduce its debt, the firm has also cut copper production, suspended dividend payments to shareholders and was issuing new shares to raise money. |