Glencore, one of the world’s largest diversified mining groups, cut its own copper production by 17%, YoY to 583,500 tonnes in January-September 2025, the company said on Wednesday.
The decline was due to lower mining rates, falling grades and withdrawals at Chile’s Collahuasi and Antamina, Peru’s Antapaccay and KCC (DR Congo).
Third quarter copper output was 36 per cent above the prior period.
Glencore’s 2025 copper production forecast was adjusted to 850-875 kt from 850-890 kt.
Cobalt output for the 9 months was 8% above the year ago level at 28.5 thousand tonnes, while zinc output was 10% higher at 709.4 thousand tonnes. Glencore changed its forecasts for cobalt production to 42-45 thousand tonnes from 41-43 thousand tonnes, and zinc production to 940-980 thousand tonnes from 950-975 thousand tonnes.
Coking coal production rose to 24.7 million tonnes in 9 months from 11.1 million tonnes in the same period in 2024, reflecting the acquisition of EVR in July last year. Steam coal production of 73.5 million tonnes is broadly in line with the same period in 2024.