Stocks from Swiss mining company ( and sugarcane plant owner) sink
Stocks of Swiss mining giant Glencore came crashing down 29% on Monday (09/28), in the London Stock Exchange, renewing its historical minimum. Investors see the company’s difficulties in achieving their reduction targets of net debt if commodity prices remain weak or fall further.
Glencore is penalized by weak economic indicators from China, a major importer of minerals, as well as market concerns about Glencore ability in implementing measures, valued at $ 10 billion, appropriately and achieve the reduction of its net debt by a third at around US $ 20 billion by the end of 2016.
In addition to the mining, Glencore also operates in the sugarcane industry. In 2010, the company acquired control of sugarcane plant Rio Vermelho, located in Junqueirópolis (SP), Brazil.