[ET Net News Agency, 9 October 2015] Glencore (00805) said it will reduce 500,000
tonnes of contained zinc metal mine production across its operations in Australia, South
America & Kazakhstan.
The main reason for the reduction is to preserve the value of Glencore's reserves in the
ground at a time of low zinc and lead prices, which do not correctly value the scarce
nature of its resources.
These changes, which represent around one-third of Glencore's annual zinc production,
will reduce fourth quarter 2015 mine production by about 100,000 tonnes of contained zinc
Glencore's operations at Lady Loretta in Australia and Iscaycruz in Peru will be
suspended and operations at George Fisher and McArthur River in Australia and various mine
operations in Kazakhstan will reduce production levels. (HL)
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