Glencore PLC 2018 Half-Year Production Report (2197W)
31 July 2018 - 4:00PM
UK Regulatory
TIDMGLEN
RNS Number : 2197W
Glencore PLC
31 July 2018
Glencore plc
Baar, Switzerland
31 July, 2018
2018 Half-Year Production Report
To view the full report please click here:
https://www.glencore.com/dam/jcr:05e0d29a-a6f9-42d5-9dac-2e261c437103/GLEN_2018_H1_production_report.pdf
Highlights
-- Own sourced copper production of 696,200 tonnes was 53,300
tonnes (8%) higher than H1 2017 and cobalt production of 16,700
tonnes was 4,000 tonnes (31%) higher, in each case reflecting the
restart/ramp-up of Katanga. Own source copper sales during the
period were some 32,000 tonnes lower due to timing of
shipments.
-- Adjusting for the African zinc assets sold to Trevali Mining
in August 2017, own sourced zinc production of 498,200 tonnes was
in line with H1 2017. Mining operations have restarted at Lady
Loretta (Mount Isa), supporting an increased full year production
run-rate.
-- Own sourced nickel production of 62,200 tonnes was 11,000
tonnes (21%) higher than H1 2017, reflecting Koniambo's second
processing line entering production and the scheduled statutory
shutdown at Murrin in the base period.
-- Attributable ferrochrome production of 818,000 tonnes was in line with H1 2017.
-- Coal production of 62.0 million tonnes was in line with H1
2017, reflecting certain offsetting factors. Cyclone Debbie in
Australia disrupted the base period, the current period includes
production from the recently acquired Hunter Valley Operations JV
(from May 2018). As previously indicated, Prodeco is undertaking
significant additional overburden removal, affecting nearby
production volumes.
-- Entitlement interest oil production of 2.3 million barrels
was 13% below H1 2017, mainly reflecting expected declines in the
liquids phase of the Equatorial Guinea offshore fields. The Chad
drilling campaign that started mid-2017 delivered increased
production of 9% over H2 2017 (stable over H1 2017).
-- Full year production guidance is set out on page 15.
For further information please contact:
Investors
Martin Fewings t: +41 41 709 m: +41 79 737 martin.fewings@glencore.com
2880 5642
Ash Lazenby t: +41 41 709 m: +41 79 543 ash.lazenby@glencore.com
2714 3804
Media
Charles Watenphul t: +41 41 709 m: +41 79 904 charles.watenphul@glencore.com
2462 3320
www.glencore.com
Glencore LEI: 2138002658CPO9NBH955
Notes for Editors
Glencore is one of the world's largest global diversified
natural resource companies and a major producer and marketer of
more than 90 commodities. The Group's operations comprise around
150 mining and metallurgical sites, oil production assets and
agricultural facilities.
With a strong footprint in both established and emerging regions
for natural resources, Glencore's industrial and marketing
activities are supported by a global network of more than 90
offices located in over 50 countries.
Glencore's customers are industrial consumers, such as those in
the automotive, steel, power generation, oil and food processing
sectors. We also provide financing, logistics and other services to
producers and consumers of commodities. Glencore's companies employ
around 146,000 people, including contractors.
Glencore is proud to be a member of the Voluntary Principles on
Security and Human Rights and the International Council on Mining
and Metals. We are an active participant in the Extractive
Industries Transparency Initiative.
www.facebook.com/Glencore
www.flickr.com/photos/glencore
www.instagram.com/glencoreplc
www.linkedin.com/company/8518
www.slideshare.net/glencore
www.twitter.com/glencore
www.youtube.com/glencorevideos
Disclaimer
The companies in which Glencore plc directly and indirectly has
an interest are separate and distinct legal entities. In this
document, "Glencore", "Glencore group" and "Group" are used for
convenience only where references are made to Glencore plc and its
subsidiaries in general. These collective expressions are used for
ease of reference only and do not imply any other relationship
between the companies. Likewise, the words "we", "us" and "our" are
also used to refer collectively to members of the Group or to those
who work for them. These expressions are also used where no useful
purpose is served by identifying the particular company or
companies.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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