Utilize the input text as a context reference, choose the right relationship between Glencore and mining from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

Glencore (GLEN.L) slumped more than 15 percent to a new all-time low after a bearish note from broker Investec that raised doubts over the mining and commodities company's valuation and high debt levels.

Answer: industry