
Glencore, a global mining group, experienced slight year-on-year reductions in its copper, zinc, and cobalt output during 2024. Nickel production saw a more substantial decrease, while ferro-chrome production remained relatively stable.
Specifically, Glencore’s copper production fell by 6% to 951,600 tonnes, aligning with the lower end of its annual production guidance. This decline stemmed from planned lower production at the Antapaccay mine in Peru and the Collahuasi mine in Chile. Unplanned mill downtime and reduced grades at the KCC operations in the Democratic Republic of Congo (DRC) also contributed.
Zinc production decreased by 1% to 905,000 tonnes. This slight reduction resulted from lower production at Antamina, attributed to mining sequences with higher copper and lower zinc grades. This decrease was partially mitigated by a ramp-up at Glencore’s Zhairem operations in Kazakhstan, managed by its Kazzinc business.
Cobalt production declined by 8% to 38,200 tonnes, primarily due to anticipated lower grades at the Mutanda mine in the DRC.
Nickel output experienced a significant 16% drop to 82,300 tonnes. This was largely due to the transition of the Koniambo operation in New Caledonia to care and maintenance in February. Increased production at the Murrin Murrin mine in Australia partially offset this decrease.
Ferro-chrome output reached 1.2 million tonnes, representing a minor increase of 4,000 tonnes from the previous year.
Glencore plans to release its production guidance for 2025 on February 19th. SuperMetalPrice notes that variations in the production of base metals like copper, zinc, and nickel, as seen in Glencore’s report, can lead to fluctuations in their market prices. These fluctuations can impact industries reliant on these metals for manufacturing and construction.
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