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Glencore's Next Step Seen as $1 Billion Gold, Silver Deal

  • Deal may be linked to some Glencore mines in South America
  • Silver Wheaton CEO interested in Glencore precious metals sale
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What's Driving Glencore Stock Higher After Record Losses?

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Glencore Plc is seeking to raise more than $1 billion by selling future production of gold and silver as it works to stave off criticism over its debt load, according to two people familiar with the situation.

The company wants to raise money in a so-called precious metals streaming deal linked to some of its mines in South America, according to the people, who asked to not be identified because the talks with potential buyers are private. The transaction is part of Glencore’s broader restructuring to reduce its $30 billion debt pile by about a third and bolster its finances to withstand a continuing slide in commodities.