Glencore ( GLNCY ), the world's biggest mining company, said Thursday that it would begin returning cash to shareholders next year after better-than-expected results from an asset sale and debt-reduction plan. Glencore said it was on track to reduce net debt to between $16.5 billion and $17.5 billion by the end of this year, down from $23.5 billion in June and that asset sales and divestments had earned around $6.3 billion, well above the original guidance of $1 billion to $2 billion. The group also said its sees free cash flow of around $6.5 billion in 2017 from Ebitda of $14 billion. The upgrades will allow the company to return around $1 billion to shareholders next year in the form to two cash payments, the company said. Glencore also said a new distribution policy will take effect from 2018 that will see a fixed payment of $1 billion and a variable payment representing a minimum payout of 25% of industrial free cash flow.