Reported 2 months ago
Glencore has abandoned its plans to separate from its coal operations, reversing a previous decision made just nine months prior. The company's shareholders pushed back against the spin-off, emphasizing the profitability of coal for the company despite increasing pressure to reduce emissions. CEO Gary Nagle stated that the decision reflects the recognition by investors that Glencore is best suited to manage its coal business, which has remained a significant revenue source.
Source: YAHOO