Glencore Reports Production Falls in Most Commodities for Year to Date, Cuts 2022 Guidance
28 October 2022 - 5:58PM
Dow Jones News
By Ian Walker
Glencore PLC on Friday reported falls in year-to-date production
for most commodities and lowered its full year guidance for
them.
The FTSE 100-listed commodity mining and trading company said
that copper production fell 14%, while production of zinc fell 18%,
lead fell 21%, gold fell 15% and silver fell 25% for the first nine
months of the year.
It reduced guidance on those commodities compared with that
provided for at the second quarter.
The company blamed a number of issues for its performance,
including extreme weather in Australia, industrial action at nickel
assets in Canada and Norway and supply-chain issues in Kazakhstan
due to Russia's war in Ukraine.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
October 28, 2022 02:43 ET (06:43 GMT)
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