Global commodities conglomerate Glencore targets to reduce its net debt to as low as $18 billion-$19 billion by end-2016, as opposed to the low-$20s billion it had targeted in early September, the company said Thursday.
In a brief statement issued prior to an investor call conference on Thursday, Glencore's chief executive officer Ivan Glasenberg said the company had achieved $8.7 billion of debt reduction since it executed measures to slash its net debt position of $30 billion three months ago.
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