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Glencore says looking at coal opportunities for future growth

Glencore Plc 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"

source: http://www.reuters.com