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Glencore Reports 11% Dip in Copper Production in H1 of 2020

Metal News - Published on Tue, 04 Aug 2020

Image Source: Glencore Copper Production
Glencore Plc announced that its copper production of 588,100 tonnes in H1, 74,900 tonnes, 11% lower than H1 2019, mainly reflecting the Mutanda mine in DRC being on care and maintenance, expected lower grades at Antapaccay in Peru and the short-term impact of Antamina’s covid-19 related demobilisation in Peru. The impact was partly offset by stronger milling throughput at Collahuasi mine in Chile. Glencore narrowed guidance for full year copper production to 1.225 million tonnes, plus or minus 35,0000 tonnes.

Cobalt production was down 33% to 14,300 tonnes, but the company retained full year guidance for the metal, at a midrange of 28,000 tonnes.

Glencore’s zinc production was 550,100 tonnes, in line with H1 2019, reflecting stronger grades at the Canadian mines and the various temporary covid-19 related suspensions at Antamina and other South American operations.

Nickel production of 55,200 tonnes was in line with H1 2019, reflecting a strong period of operations at Murrin mine in Western Australia.

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Posted By : Yogender Pancholi on Tue, 04 Aug 2020
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