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Glencore says looking at coal opportunities for future growth

Reuters - UK Focus

MELBOURNE, June 4 (Reuters) - Glencore Plc (Xetra: A1JAGV - news) said it is looking at Australian coal assets and other coal opportunities as it seeks to take advantage of a downturn in the market to position itself for future growth.

"These (opportunities) include bolt-ons, synergy plays and option building opportunities. This is a good time in the cycle for this," Glencore's coal business head Peter Freyberg told a business luncheon.

Glencore said earlier this year it would reduce its 2015 coal exports by 15 million tonnes given a significant fall in prices. Freyberg said he expected Glencore's exports this year to be "closer to 90 million tonnes than 100 million tonnes". (Reporting by Melanie Burton, Writing by Richard Pullin; Editing by Himani Sarkar)