Commodities Buzz: Glencore Copper Output Drops 8% This Year

Commodities Buzz: Glencore Copper Output Drops 8% This Year

Oct 30, 2020 04:10 IST capital market

Mining major Glencore reported today that its own sourced copper production came in at 934,700 tonnes in first three quarters of 2020, down 81,100 tonnes (8%) than the comparable prior period, reflecting Mutanda mine being on care and maintenance in the current period and the temporary suspension of operations at Antamina in Q2, partly offset by a continued strong milling performance at Collahuasi and Katangas ramp-up. However, the September quarter output came in at 347000 tonnes, up from 295 tonnes in June quarter, reflecting reversal of the various short-term Covid-19 related shutdowns in Q2, as mandated by several national/local governments.

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