Glencore announces $1B buyback

• Glencore (OTCPK:GLNCY) is launching a share buy-back program of up to $1B over the next six months, making it the first among the diversified miners to return extra cash to shareholders this year.
• The mining giant said last week that it had received $6.5B from the sale of its Peruvian copper project Las Bambas earlier this year, triggering the possibility of a special dividend for shareholders or a buy-back.