Saudi Arabia to visit Brazil and Chile as seeks to diversify mining
The diversification strategy includes plans to expand into international mining to secure access to minerals including copper, cobalt and nickel, as well as lithium.
Glencore Plc is planning to cut production at one of its largest copper and cobalt mining operations in the Democratic Republic of Congo, the Wall Street Journal reported citing sources on Tuesday.
The output cut is likely to be temporary as the company looks for new ways to mine copper, the report said.
The company also plans to lay off about 2,000 employees, mostly contractors, at the Mutanda mine in the Katanga province, the report said, citing people familiar with the matter.
Glencore declined to comment to a Reuters request for comment.
(By Arathy S Nair in Bengaluru; Editing by Arun Koyyur)
