WASHINGTON (dpa-AFX) - Glencore Plc (GLEN.L) on Wednesday announced major progress on its copper strategy at its 2025 Capital Markets Day, outlining a pathway to produce about 1 million tons of copper by 2028 and targeting roughly 1.6 million tons by 2035.
The company is looking at a 4 percent annual growth rate for copper-equivalent production from 2026 to 2029, with copper production expected to rise by about 9.4 percent each year.
Glencore also announced plans to restart the Alumbrera mine in Argentina, aiming for its first production in 2028.
GLEN.L is currently trading at GBP 381.23, up GBP 20.88 or 5.79 percent on the London Stock Exchange.
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