An activist investor has called on Glencore PLC to sell its thermal- coal business, pressuring the commodities giant to join other big miners in ditching the fuel.
Glencore is the last of the world’s large miners to retain a presence in thermal coal, a currently lucrative business but one seen by some as harmful to the environment. The company has said it plans to run down its thermal- coal operations by 2050 but remains committed meanwhile to the fuel, which analysts at Bernstein expect to generate 17% of earnings this year.
