23 February 2017
Preliminary Results 2016
Positioned for the challenges and opportunities that lie ahead
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Glencore’s Chief Executive Officer, Ivan Glasenberg, commented: “Since our IPO in 2011 and subsequent acquisition and integration of Xstrata, Glencore has never been so well positioned as it is today.
“Our swift and decisive actions to reposition and optimise our capital structure and industrial asset portfolio have reduced Net funding by $14.7 billion over the past eighteen months and generated more than $1.3 billion in cost savings at our industrial assets in 2016.
“As we look forward, increasingly favourable fundamentals provide the potential to create significant long-term value for Glencore shareholders via our leading portfolio of well capitalised tier one assets and resilient marketing business, combined with significant low-cost copper and zinc growth options and disciplined approach to supply.”
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