1323 GMT - Glencore's new coking coal assets will be highly cash generative, analysts at BofA Securities write. The London-listed miner completed the acquisition of Elk Valley Resources from Teck in early July 2024. It now operates four steelmaking coal mines in the Elk Valley of British Columbia, Canada. "These new coking coal assets are world-class, large scale, long life and should be highly cash generative", they write. The analysts predict the assets will generate earnings before interest, taxes, depreciation and amortization of around $1.5 billion to $2.5 billion per year. The market currently underestimates the cash flow generation potential of these assets, they write. Shares trade up 1.7% at 364.70 pence. (adam.whittaker@wsj.com)
(END) Dow Jones Newswires
January 13, 2025 08:23 ET (13:23 GMT)
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