Glencore is cutting its debts by selling copper mines in Australia and Chile.
The commodity trader and miner plans to include assets sales to cut $30bn (£20bn) of net debt by a third after a slump in the price of commodities it trades and mines. The company has suspended its dividend, raised $2.5bn by selling shares and stopped operations at two African mines.
Its share price has more than halved this year as a result of the collapse in commodity prices as demand from China falls.
Glencore said it decided to sell the Cobar and Lomas Bayas mines after a number of potential bidders made inquiries. Glencore shares were suspended in Hong Kong before the announcement was made.
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