Glencore to manage all its coal assets out of single Australian unit

LONDON, May 29 (Reuters) - Glencore GLEN.L said on Thursday it has restructured its coal business by moving its recently acquired Canadian mines into a single unit run out of Australia, making it easy to manage.

The Swiss-based miner and trader bought Canadian miner Teck Resources' coal assets for $6.9 billion and had initially outlined a plan to spin off all its coal assets, which was later abandoned.

"Combined with the acquisition of EVR we commenced a process to restructure the coal business and align it with the management structure given the coal industrial assets are managed out of Australia," a Glencore spokesperson said.