Glencore: first-quarter output in line with expectations
(CercleFinance.com) - Miner and commodity trader Glencore said that production was largely in line with expectations across all divisions in the first three months of the year, which prompted the Swiss-based group to maintain its full-year targets that it presented in February.
Own sourced copper output rose to 345,400 tonnes in the first quarter, reflecting the commissioning of a new ore leach project, which was partially offset by the impact of maintenance at another smelter.
Coal production of 30.7 million tonnes was in line with that of the first quarter of 2017, reflecting a stronger contribution from the Australian portfolio, offset by weather-related reductions at Colombia's Prodeco.
Glencore also reported a 21% increase in nickel to 30,100 tonnes.
In zinc, first quarter output fell by 13% to 242,700 tonnes, mainly on the back of disposals.
Shares in Glencore are currently up 1.3%, outperforming a flat UK stockmarket.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Own sourced copper output rose to 345,400 tonnes in the first quarter, reflecting the commissioning of a new ore leach project, which was partially offset by the impact of maintenance at another smelter.
Coal production of 30.7 million tonnes was in line with that of the first quarter of 2017, reflecting a stronger contribution from the Australian portfolio, offset by weather-related reductions at Colombia's Prodeco.
Glencore also reported a 21% increase in nickel to 30,100 tonnes.
In zinc, first quarter output fell by 13% to 242,700 tonnes, mainly on the back of disposals.
Shares in Glencore are currently up 1.3%, outperforming a flat UK stockmarket.
Copyright (c) 2018 CercleFinance.com. All rights reserved.