Glencore copper output falls in Q3 amid plans to shutter Mutanda; Cobalt rises on Katanga ramp up


Glencore reported a rise in cobalt production amid a ramp up in operations at its Katanga mine, but copper production fell as the miner prepared to shutter its Mutanda mine in the Democratic Republic of Congo.

Cobalt production of 34,400 tonnes was down 21% in the third quarter from a year earlier, and copper production fell 4% to 1,015,800 tonnes from a year earlier.

The company said it expected to produce about 1.01m tonnes of copper for the full-year and about 43,000 tonnes of cobalt.

At 8:37am: (LON:GLEN) Glencore PLC share price was -1.05p at 231.3p

Related content

Broker Forecast - JP Morgan Cazenove issues a broker note on Glencore PLC

JP Morgan Cazenove today reaffirms its underweight investment rating on Glencore PLC (LON:GLEN) and cut its price target to 180p (from 190p).

Broker Forecasts data...

Mon, 10/08/2020 - 11:30

ITV can’t make audience growth pay, and new Aviva CEO gets stuck in

“The FTSE 100 gave up a good portion of its recent gains on Thursday morning as investors weighed the latest decision on interest rates from...

Thu, 06/08/2020 - 11:03

Glencore swings to loss as virus impact dents commodity prices

Mining company Glencore swung to a loss in the first half of the year, as the impact of the pandemic commodity prices.

For the...

Thu, 06/08/2020 - 08:01

Glencore cuts nickel, coal guidance as output falls in H1 on virus-led disruptions

Mining company Glencore cut its output guidance for nickel and coal, after reporting a fall production across its commodities in the first half of the...

Fri, 31/07/2020 - 08:07

Broker Forecast - Goldman Sachs issues a broker note on Glencore PLC

Goldman Sachs today initiates coverage of Glencore PLC (LON:GLEN) with a buy investment rating and price target of 220p.

Broker Forecasts data provided by ...

Wed, 15/07/2020 - 14:00