Glencore Copper Mines Seen Top of China's Asset Shopping List
- Analysts say China companies likely buyers if Glencore sells
- Glencore said to seek sale of stake in agriculture business
Glencore Rises After Biggest-Ever Advance on Tuesday
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As Glencore Plc looks to reduce its debt load by selling assets, analysts say Chinese companies would be most interested in the Swiss trader’s copper mines.
With China’s economic slowdown roiling commodity markets, Glencore has announced measures to shore up its balance sheet, including issuing new shares, scrapping dividends and selling assets. While it hasn’t flagged its copper operations alongside options including the sale of stakes in agriculture assets and precious metals streaming deals, the China Mining Association, Argonaut Securities Asia Ltd. and Clarksons Platou Securities say the Chinese would be willing buyers.