Glencore to reduce Australian coal exports by 15 million tonnes in 2015
Glencore will defer some projects and will continue to review all its coal operations.
In addition to the direct operational changes Glencore will defer some projects and ensure that inventory management and blending are optimised. Glencore will continue to review all its coal operations in the prevailing economic climate.
Regulatory approvals for projects will continue to be progressed to provide Glencore with future optionality, but remain subject to final investment approval. ■