LONDON, Aug 8 Reuters Glencore on Tuesday said it remains on the hunt for acquisitions, including a possible partial or full takeover of Canada39;s Teck Resources, even as it slashed shareholder payouts and reported a halving in earnings for the first six months of the year.

Glencore joined rival miners Rio Tinto, Teck Resources and Anglo American in reporting lower profit and returns as economic growth remained lacklustre. But the miner and trader was still optimistic on prospects for the world39;s largest commodities consumer China.

It may not be the bonanza that everybody was expecting, but China is not all that bad, CEO Gary Nagle said.

Glencore39;s adjusted core earnings, or earnings before interest, tax, depreciation and amortisation EBITDA, fell to 9.39 billion in the six months through June, from 18.92 billion a year earlier. Analysts at Deutsche Bank had expected halfyear earnings of 9.9 billion, while Citi39;s estimate was 11.4 billion.

We expect midsingle digit downwards revision to consensus expectations for full year EBITDA and cash flow on the back of weaker interim earnings, Citi analysts said.

The company announced additional returns of around 2.2 billion, including a 1 billion special dividend and a 1.2 billion share buyback programme that will run until February 2024.

This compared to an additional 4.5 billion in same period of 2022, including a 1.45 billion special dividend and a 3 billion share buyback.

Glencore39;s shares had fallen 2.6 by…