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Glencore has no plans to spin off gold business, open to Kazzinc sale, says CEO

Thu, 6th Aug 2020 09:15

LONDON, Aug 6 (Reuters) - Glencore has no plans to spin off
its gold business but remains open to selling gold-producing
Kazzinc, like any other asset, at the right price, the chief
executive said.

Gold prices are trading at record highs of above
$2,050 an ounce, spurring on merger and acquisitions in the
industry. Glencore produces about 1 million ounces of gold as
byproducts from its mines, mostly from its Kazzinc mine in
Kazakhstan.
(Reporting by Julia Payne and Zandi Shabalala; Editing by
Edmund Blair)

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