BRUSSELS (dpa-AFX) - Glencore PLC (GLEN.L,GLNCY.PK,GLCNF.PK,GLN.JO), a Swiss miner and commodity trader, on Thursday reported a rise in copper production for the year-to-date period. However, the company posted a drop in bullion output.
For the year-to-date period, Glencore reported copper output of 598.6 kt, higher than 583.5 kt in the same period last year, driven mainly by increased mining rates and improved grades at African Copper and higher grades at Antamina.
Zinc production was 547.2 kt, down from 709.4 kt a year ago. This decrease primarily reflects Lady Loretta, which has reached the end of its mine life, lower zinc grades at Antamina in line with planned higher copper/lower zinc mine sequencing, and disposal of the Kidd mine on June 1.
Lead output was 122.7 kt, compared with 132.7 kt in the prior year. Gold production stood at 262 koz, less than 448 koz a year ago. Silver production also moved down to 13,298 koz from the previous year's 14,818 koz. Steelmaking coal production slipped to 21.5 mt from last year's 24.7 mt. The miner produced energy coal of 73.9 mt, compared with 73.5 mt a year ago.
Looking ahead, the company has reaffirmed its annual production guidance. For fiscal 2026, the miner still expects copper output of 810 kt to 870 kt, zinc production of 700 kt to 740 kt, and nickel output of 70 kt to 80 kt. Glencore has reaffirmed steelmaking coal production guidance of 30 kt to 32 kt and energy coal output outlook of 96 kt to 101 kt.
For fiscal 2025, Glencore had recorded copper production of 851.6 kt, zinc output of 969.4 kt, nickel production of 71.9 kt, steelmaking coal production of 32.5 mt, and energy coal production of 98 mt.
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