Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Commodities  >  LME Zinc Cash       

LME ZINC CASH
Mes dernières consult.
Most popular
SummaryChartsNews 
News SummaryAll newsTweets

Glencore 2017 Production Fell on Disposals, Maintenance, Weather

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/01/2018 | 08:51am CEST

By Carlo Martuscelli

Glencore PLC (GLEN.LN) said Thursday that production was lower for most commodities in 2017, reflecting the impact of disposals, maintenance work and weather.

The natural-resource company said copper production for the year ended Dec. 31 fell 8% to 1.3 million metric tons. The decrease was attributable to constraints on production due to smelter maintenance, end-of-life production declines, a shortage of sulphuric acid, and the partial sale of the Ernest Henry mine in Australia, the company said.

However, Glencore said copper production rose 20% in the fourth quarter from the previous quarter, reflecting the resolution of those issues.

Nickel production decreased 5% to 109,100 tons, while zinc production was in line with the year before at 1.1 million tons, Glencore said.

The company said coal production fell 3% to 121 million tons, and cited industrial action and weather conditions which were slightly offset by improvements in productivity and Glencore expanding its stake in certain mines.

Glencore's share of oil entitlement was 5.1 million barrels, 19% lower than the same period last year, due to low oil prices leading to inactive field development, it said.

The company said it had increased its meaningful proved and probable reserves at a number of holdings. It said nickel reserves at its Sudbury nickel mine in Canada increased by 14 million tons of ore, or 48%, while its Kazzinc mine in Kazakhstan added 8 million tons of zinc ore, a 9% increase. Glencore said its Katanga mine in Congo had added 13 million tons, or 10%, of copper ore.

Write to Carlo Martuscelli at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
GLENCORE 0.24% 377.5 Delayed Quote.-3.21%
LME COPPER CASH 0.75% 6886 End-of-day quote.-4.11%
LME NICKEL CASH 2.17% 14840 End-of-day quote.16.94%
SILVER -0.18% 16.458 Delayed Quote.-1.57%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on LME ZINC CASH
05/22Rio Tinto Warns Mongolia to Honor Agreements -FT
DJ
05/18Rio Tinto Approved to Run Autonomous Trains at Pilbara
DJ
05/03COMMODITY COMMENT : Glencore's Zinc Production Drop Mars Robust Copper Figures
DJ
05/03Glencore 1Q Output Was Largely in Line With Views; Guidance Unchanged
DJ
05/02More Legal Ire for Rio in Australia -- WSJ
DJ
05/01Australia Broadens Legal Action Against Mining Titan Rio Tinto
DJ
05/01Australia Widens Lawsuit Against Rio Tinto, Former Executives Over Mozambique..
DJ
04/18Rio Tinto Driverless Trains Advance, Projects on Track -- Commodity Comment
DJ
04/17Rio Tinto Australian Iron-ore Shipments Higher On-year
DJ
04/13Rio Tinto to Declare Force Majeure on Certain Rusal Contracts
DJ
More news
Chart LME ZINC CASH
Duration : Period :
LME Zinc Cash Technical Analysis Chart | 4-Traders
Technical analysis trends LME ZINC CASH
Short TermMid-TermLong Term
TrendsBearishBearishNeutral