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Unwilling to give up on 'cash cow', shareholders of Glencore reject divestment of coal business

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Glencore has abandoned its plan to divest its coal business due to shareholder opposition, as it is unwilling to give up its "cash cow". At the end of last year, Glencore announced that it would exit its profitable but heavily polluting coal business. This is a watershed in the mining industry. As one of the world's largest coal transporters, Glencore is preparing to follow its competitors and exit the coal business.
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