Glencore PLC Third Quarter 2019 Production Report (0845R)

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     [e-mail] 
                        2880              5642 
 Maartje Collignon     t: +41 41 709     m: +41 79 197     [e-mail] 
                        32 69             42 02 
 Media 
 Charles Watenphul     t: +41 41 709     m: +41 79 904     [e-mail] 
                        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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October 25, 2019 02:00 ET (06:00 GMT)