Diversified mining and marketing company Glencore will halve the production of its fossil fuel business between now and 2035 and in that time use the cash flows from that fossil business to double production of its copper business. “So, a very neat and tidy use of our fossil fuels, firstly to provide the energy of today and also to provide the cash flow to build the energy infrastructure of tomorrow,” Glencore CEO Gary Nagle stated during the company’s investor update covered by Mining Weekly.
