Glencore’s Glasenberg Applauds Rival CEOs for New Mantra

Glencore Xstrata Plc Chief Executive Officer Ivan Glasenberg said mining-industry peers are responding to his call to restrain spending and shelve expansions in a bid to buoy prices and boost investor returns.

“CEOs are now under pressure from shareholders and they are doing the right thing, it’s clear,” Glasenberg said in a phone interview from London. “They are following the mantra.”