Glencore may put gold assets on market, mulls IPO

* Glencore controls biggest gold mine in Kazakhstan

* Gold assets similar in size to African Barrick Gold

* Commodity trader said in March planned $1 bln in disposals

LONDON, June 7 (BestGrowthStock) – Commodities trader and miner
Glencore [GLEN.UL] is considering putting its gold assets on the
market as gold prices remain robust while other metals prices
tumble, a source close to the situation said on Monday.

One option was listing the assets, which mainly consist of
the largest gold mine in Kazakhstan, Vasilkovskoe, said the
source, who declined to be named.

The source declined to put a value on the assets, but they
produce almost as much gold as recently-listed African Barrick
Gold (ABGL.L: ), which has a market value of $3.7 billion.

“Glencore is considering monetising the gold assets in the
group,” the source said.

Swiss-based Glencore International AG said in March it
planned about $1 billion in disposals in three to six months
after it bought back the Prodeco coal operations in Colombia for
around $2.5 billion from mining group Xstrata (XTA.L: ).

Privately-held Glencore, which has taken initial steps
towards a public listing valuing it at more than $35 billion,
made the promise of disposals in March after discussions with
credit rating agencies about its liquidity.

Liquidity at Glencore — the world’s biggest commodity
trader — has improved to near record levels after it signed
$10.2 billion in credit facilities in May and after working
capital was released due to lower commodity prices, the source

Stock Market Analysis

(Reporting by Eric Onstad; Editing by David Cowell)

Glencore may put gold assets on market, mulls IPO