Help Desk -
9958816305, 9810335381
Email
Password

Glencore Announces Q3 Results

Metal News - Published on Mon, 28 Oct 2019

Image Source: The Independent
Own sourced copper production of 1,015,800 tonnes was 47,300 tonnes (4%) lower than the comparable prior period, mainly reflecting:
(i) Mutanda’s re-optimised 100,000 tonnes p.a. plan (from 200,000 tonnes), impacting the current period by 67,000 tonnes
(ii) Mopani’s smelter shut for extensive refurbishment (21,600 tonnes of metal)
(iii) disposal/depletion of 2 South American assets in the base period (20,200 tonnes), partly offset by Katanga’s ramp-up (66,500 tonnes favourable).

Own sourced cobalt production of 34,400 tonnes was 5,900 tonnes (21%) higher than the comparable prior period, primarily reflecting Katanga’s ramp-up.

Own sourced zinc production of 809,200 tonnes was 23,100 tonnes (3%) higher than the comparable prior period, mainly reflecting the contribution of Lady Loretta mine (Mount Isa) and stronger production at McArthur River, partly offset by lower production from Antamina, basis an expected temporary transition to lower zinc-bearing areas of the mine, and a reduction at Kazzinc, mainly related to ground stability issues at Tishinsky mine.

Own sourced nickel production of 89,400 tonnes was slightly (2%) lower than the comparable prior period, mainly relating to Koniambo, which experienced a challenging H1 2019 ramp-up period.

Attributable ferrochrome production of 1,030,000 tonnes was 115,000 tonnes (10%) lower than the comparable prior period, mainly relating to additional maintenance days undertaken in Q3 2019.

Coal production of 104.0 million tonnes was 7.3 million tonnes (8%) higher than the comparable prior period, mainly reflecting the full year effect of the HVO and Hail Creek acquisitions in 2018, and higher production at Prodeco following its increased mine development in 2018, partly offset by lower production from Cerrejón, due to dust constraints.

Entitlement interest oil production of 3.6 million barrels was 0.3 million barrels (8%) higher than the comparable prior period, reflecting increases in Chad associated with the ongoing drilling campaign and first oil from the Bolongo block in Cameroon, partly offset by natural declines in Equatorial Guinea.

Source :

Posted By : Amom Remju on Mon, 28 Oct 2019
Related News from Metal segment