Glencore copper production down 8% in 2020
14:58 PM | November 6, 2020 | Daniel Marshall
Glencore’s copper production for the first three quarters this year was 934,700 metric tons, down 8% as compared to a year ago, according to the company’s third-quarter production report.
The company said the decline was due to Mutanda mine in the Democratic Republic of the Congo (DRC) undergoing maintenance and the temporary suspension of operations at Antamina, Peru, in the second quarter, while it ramps up production at the Katanga mine in DRC. Third-quarter copper output, however, was up 17.6% from the previous quarter at 347,000 metric tons, as production gradually resumes after coronavirus-related mine shutdowns in various countries.
“Glencore has delivered a solid third-quarter operating performance, including the continued successful ramp-up of Katanga, which remains on track to achieve design capacity by year-end,” said Chief Executive Ivan Glasenberg.
The company said current full-year 2020 copper production guidance remains unchanged at 1.255 million metric tons, while tightening ranges to plus or minus 25,000 metric tons from plus or minus 35,000 metric tons.