Axe 落ちるs at Glencore Xstrata as 貯金 的 攻撃する，衝突するs £1.4bn by 2014

By Roger Baird

Updated: 01:03 BST, 11 September 2013

Glencore Xstrata took an axe to spending and 約束d 投資家s there was more to come.

The 採掘 and 貿易（する）ing group’s 長，指導者 (n)役員／(a)執行力のある Ivan Glasenberg said the 会社／堅い would wring £1.4bn of 貯金 from the 商売／仕事 by 2014. This is four times the £318m of cost 貯金 the newly-formed group said it would 達成する when 商品／必需品s 仲買人 Glencore and 鉱夫 Xstrata 完全にするd their $46bn 合併 in May.

Of the new £1.4bn 人物／姿／数字, Glencore said £286m would come from better pricing and 貿易（する）ing 契約s, £890m from 操作の 貯金, with the 残り／休憩（する） coming from 財政上の synergies linked to the 大きくするd group’s 改善するd credit profile.

But Glasenberg 推定する／予想するd その上の 操作の 貯金 to come from the 合併, as the 商売／仕事 took a deeper loo k at the many 事業／計画（する）s it runs around the world. Glasenberg said: ‘There is more to come. We have not really gone 深い into the 資産 味方する.’

分析家s had 推定する／予想するd Glencore to 昇格 the 量 of 貯金 the 大きくするd 商売／仕事 would 達成する, as they regarded its 初めの £318m as a 保守的な 見積（る）. However, the new 人物／姿／数字 was larger than many 推定する／予想するd.

株 in Glencore rose 7.45p to 328.75p. The 在庫／株 has lagged behind 競争相手s since the May 合併. And last month the 商売／仕事 was 軍隊d to 発表する a paper writedown of £4.9bn on Xstrata’s 資産s 誘発するing some to question the 合理的な／理性的な behind the 合併.

The price of a number of 重要な 商品／必需品s are beginning to 冷静な／正味の, such as coal and nickel.

But Glasenberg 非難するd 鉱夫s for 開始 too many 事業／計画（する）s: ‘採掘 went mad. We all oversupplied the market.’

Glencore has built a 評判 as a lean but 隠しだてする 商売／仕事. However, Glasenberg 述べるd Xstrata as a bureaucratic company that duplicated 合法的な, IT and many other 管理／経営 teams. Since the 合併 in May Glencore said it has 完全にするd the 初期の 統合，差別撤廃, cutting 33 offices 世界的な and 1,800 職業s.

In a 企て，努力，提案 to 削減（する） costs the group has reviewed 88 Xstrata 事業／計画（する）s and put 44 of them on 持つ／拘留する, accounting for around £13.4bn of 資本／首都 spending. ?

Glasenberg said 開始 new 地雷s would only その上の depress prices.

Glencore said it is 予定 to receive 初期の 企て，努力，提案s for its £3.8bn La Bambas 巡査 地雷 in Peru next week, 入札者s are 推定する／予想するd to 含む up to four Chinese 採掘 会社／堅いs.