TIDMGLEN
RNS Number : 0845R
Glencore PLC
25 October 2019
GLENCORE PLC
NEWS RELEASE
Baar, 25 October 2019
Third Quarter 2019 Production Report
Production from own sources - Total(1)
Change
YTD 2019 YTD 2018 %
----------------------------------------------------------------- ----- -------- -------- ------
Copper - excl. African Copper kt 732.6 765.2 (4)
Copper - African Copper, in development/optimisation phases kt 283.2 297.9 (5)
Copper kt 1,015.8 1,063.1 (4)
Cobalt kt 34.4 28.5 21
Zinc kt 809.2 786.0 3
Lead kt 219.8 196.5 12
Nickel kt 89.4 90.9 (2)
Gold koz 622 774 (20)
Silver koz 23,733 26,339 (10)
Ferrochrome kt 1,030 1,145 (10)
Coal mt 104.0 96.7 8
Oil (entitlement interest basis) kbbl 3,638 3,356 8
----------------------------------------------------------------- ----- -------- -------- ------
1 Controlled industrial assets and joint ventures only.
Production is on a 100% basis, except as stated.
Highlights
-- 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); and (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.
To view the full report please click
https://www.glencore.com/dam/jcr:c993d93b-2c00-42f9-8f5c-b89e688228d8/GLEN-2019-Q3-ProductionReport.pdf
For further information please contact:
Investors
Martin Fewings t: +41 41 709 m: +41 79 737 martin.fewings@glencore.com
2880 5642
Maartje Collignon t: +41 41 709 m: +41 79 197 maartje.collignon@glencore.com
32 69 42 02
Media
Charles Watenphul t: +41 41 709 m: +41 79 904 charles.watenphul@glencore.com
2462 3320
www.glencore.com
Glencore LEI: 2138002658CPO9NBH955
Notes for Editors
Glencore is one of the world's largest global diversified
natural resource companies and a major producer and marketer of
more than 60 commodities. The Group's operations comprise around
150 mining and metallurgical sites and oil production assets.
With a strong footprint in both established and emerging regions
for natural resources, Glencore's industrial and marketing
activities are supported by a global network of offices located in
over 35 countries.
Glencore's customers are industrial consumers, such as those in
the automotive, steel, power generation, battery manufacturing and
oil sectors. We also provide financing, logistics and other
services to producers and consumers of commodities. Glencore's
companies employ around 158,000 people, including contractors.
Glencore is proud to be a member of the Voluntary Principles on
Security and Human Rights and the International Council on Mining
and Metals. We are an active participant in the Extractive
Industries Transparency Initiative.
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END
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