According to reports of Glencore, the company has registered relatively small fall in full-year earnings. On Tuesday, Glencore, which is among the world’s largest resources companies, took an impairment charge of about $1.1 billion on lower commodity prices. In 2014 core profit, the miner and commodity trader posted a fall of about 2%.

Glencore had acquired Xstrata, a diversified mining company headquartered in Zug, and included the operations into its business during 2014. As per the reports, the weak commodity markets have pulled down the adjusted earnings by about 7% to $9.8bn. The company’s adjusted amortization fell 2% to $12.8bn.

Glencore, largely a commodity trader, announced a final dividend of about 12 United States cents, up about 9% from a year earlier. After the declaration, the total dividend for the year climbed to 18c.

For the year, Glencore cut its net debt by about $5.3bn to $30.5bn. According to the reports, the company was helped by reduced capital expenditure, sale of assets and cash that comes from its operations. In a recent statement, the company said that it has decided to limit coal production at Optimum in SA and many coal operations in Australia to meet current market demand. According to the company, the decision will help it to deal with current market environment.

As per the reports, the company has cut over $1bn out of its capital expenditure expectations for 2015. The company stated, “While there remains the potential for future economic setbacks and no shortage of bearishness towards commodities in financial markets, physical demand for our raw materials remains healthy”.

The company further stated that it will introduce strict measures in supply conditions to ensure appropriate response of their key commodities, falling grades and production investment cutbacks. The company had sold its Las Bambas copper project in Peru for about $6.5bn.