Glencore sees copper production plummet in first half of year

Commodities giant Glencore has published its production report for the first half of the year, which was marked by a sharp fall in copper volumes. +Get the most important news from Switzerland in your inbox Steelmaking coal, meanwhile, rose sharply following the takeover of Canada's Elk Valley Resources (EVR). From January to June, copper production fell by 26% year-on-year to 343.9 kilotonnes. Production is expected to pick up at all mines in the second half of the year, albeit at a slower pace than initially forecast. For the year as a whole, total production is expected to be between 850 and 890 kilotonnes, compared with 850 to 910 kilotonnes previously forecast. In 2024, volumes reached 951.6 kilotonnes. Nickel production also fell by 17% to 36.6 kilotonnes, as did gold, down 18% to 301,000 ounces. Conversely, cobalt and zinc rose sharply, by 19% to 18.9 kilotonnes and 12% to 417.2 kilotonnes respectively. Thermal coal production rose slightly by 2% to 48.3 million tonnes. Full story here Are you the author? Previous post See more for 3.) Swissinfo Business and Economy Next post
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