GLENCORE PLC 
By
Production Report
for the 12 months ended 31 December 2013
Following completion of the GlencoreXstrata merger on 2 May 2013, production information for all periods covered in this report has been presented on a combined basis.
Key Highlights:- Total own sourced copper production up 26% to 1.5 million tonnes in 2013, driven by strong growth in African copper, Collahuasi, Antapaccay and Ernest Henry:
o African copper up 43% to 398,600 tonnes, as the key expansion projects, Katanga and Mutanda, successfully grow production, both reaching 200,000 tonnes p.a. capacity at the end of 2013.
o Collahuasi increased production 58% to 195,600 tonnes, with H2 2013 up 91% compared to H1 2013, as production ramped up, following the SAG mill restart and a return to higher grades.
o The Antapaccay and Ernest Henry projects are progressing well.
- Perseverance and Brunswick mines reached the end of their mine lives in June 2013, resulting in a decline in total own sourced zinc and lead production, only partially offset by the growth projects in Australia and Africa. Excluding Perseverance and Brunswick, zinc production increased by 7% in 2013.
- Koniambo started production in Q4 2013 and is in the early stages of ramp-up.
- Quarterly sequential (Q4 13 v Q3 13) increase in all Base Metal (Cu, Zn, Pb and Ni) own source production.
- Ferrochrome production up 32% to 1.2 million tonnes based on higher utilisation of the smelters and furnaces and the successful commissioning of the Tswelopele pelletizing plant.
- Own sourced gold production up 14% to 1,023,000 oz, driven by strong growth at Kazzinc and Antapaccay.
- Coal production up 4% to 138.1 million tonnes during 2013, driven by a number of key expansion projects at Prodeco and various Australian thermal coal assets.
- Successful commencement of production at Alen (Equatorial Guinea) and Badila (Chad) oil fields in 2013.
- Successful sale of the pasta and malt businesses during 2013, acquired as part of Viterra.
- The Group's resources and reserves report was also issued today, noting:
o Significant growth in Mutanda copper ore reserves and mineral resources, up respectively, 23% and 25% to 2.0 million and 7.4 million tonnes of contained copper.
o The recognition of ore reserves at Las Bambas, containing 6.9 million tonnes of copper.
o An increase of 21% in iron ore mineral resources to 4.6 billion tonnes of contained iron (100% basis), mainly as a result of increased resources at El Aouj.
o An increase of 129% to 87 mmboe in 2P net oil reserves, primarily through the recognition of acquired Chad reserves and an increase of 223% to 387 mmboe in 2C net contingent oil resources, mainly resulting from drilling in Cameroon.
To view the full report please click here http://www.rns-pdf.londonstockexchange.com/rns/7375Z_1-2014-2-10.pdf
For further information please contact:
| Investors | Media | |
Paul Smith t: +41 (0)41 709 24 87 m: +41 (0)79 947 13 48 e: paul.smith@glencore.com | Charles Watenphul t: +41 (0)41 709 24 62 m: +41 (0)79 904 33 20 e: charles.watenphul@glencore.com | |
| Investors | Investors | Finsbury (Media) |
Martin Fewings t: +41 (0)41 709 28 80 m: +41 (0)79 737 56 42 e: martin.fewings@glencore.com | Elisa Morniroli t: +41 (0)41 709 28 18 m: +41 (0)79 833 05 08 e: elisa.morniroli@glencore.com | Guy Lamming Dorothy Burwell t: +44 (0)20 7251 3801 |
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