Stock Market News
Glencore posts drop in full-year copper, coal and nickel output
Glencore reported a drop in full-year copper, coal and nickel production on Thursday.
In the 12 months to 31 December 2017, copper production declined 8% from the previous year to 1.3m tonnes, reflecting the Ernest Henry minority sale in the fourth quarter of 2016, end of life production declines at Alumbrera and various temporary effects including lower throughput at Mutanda and smelter maintenance at Mount Isa.
Still, copper production in the fourth quarter was up 20% compared to the third, which the company said reflected the resolution of those temporary impacts.
Meanwhile, coal output fell 3% on 2016 to 121m tonnes as reductions associated with industrial action and adverse weather events were mostly offset by productivity improvements and the company's higher equity share in certain mines.
Nickel production was 5% lower than the previous year at 109,100 tonnes due to changes in the use of third party versus own sourced feeds in the integrated nickel operations circuit, partly offset by a strengthening operational performance at Koniambo.
Glencore said zinc production was in line with 2016 at 1.09m tonnes as the step-up in Antamina zinc production was offset by the disposals of the African mines to Trevali Mining, and lower production at Mount Isa.
In the 12 months to 31 December 2017, copper production declined 8% from the previous year to 1.3m tonnes, reflecting the Ernest Henry minority sale in the fourth quarter of 2016, end of life production declines at Alumbrera and various temporary effects including lower throughput at Mutanda and smelter maintenance at Mount Isa.
Still, copper production in the fourth quarter was up 20% compared to the third, which the company said reflected the resolution of those temporary impacts.
Meanwhile, coal output fell 3% on 2016 to 121m tonnes as reductions associated with industrial action and adverse weather events were mostly offset by productivity improvements and the company's higher equity share in certain mines.
Nickel production was 5% lower than the previous year at 109,100 tonnes due to changes in the use of third party versus own sourced feeds in the integrated nickel operations circuit, partly offset by a strengthening operational performance at Koniambo.
Glencore said zinc production was in line with 2016 at 1.09m tonnes as the step-up in Antamina zinc production was offset by the disposals of the African mines to Trevali Mining, and lower production at Mount Isa.
Related share prices |
---|
Glencore (GLEN) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price