Glencore Q1 Own Sourced Copper Production Up 7% - Quick Facts

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(RTTNews.com) - Glencore Plc (GLCNF.PK, GLNCY.PK, GLEN.L) said that its own sourced copper production for the first quarter of 2018 rose 7 percent from the year-ago period to 345,400 tonnes.

The increase in copper production reflects the commissioning of phase 1 of Katanga's whole ore leach project in December 2017, partly offset by the impact of maintenance at the Mount Isa smelter and Alumbrera's expected decline as it moves towards end of mine life.

Own sourced nickel production for the quarter grew 21 percent to 30,100 tonnes, reflecting the continuing stabilisation and ramp-up of Koniambo's processing plant, where both production lines are now operational, and stronger performances at Murrin and INO.

Own sourced zinc production declined 13 percent to 242,700 tonnes, reflecting the disposal of Rosh Pinah and Perkoa in August 2017.

Coal production decreased 1 percent to 30.7 million tonnes as stronger contribution from the Australian thermal portfolio - impacted by adverse weather in the base period, was offset by weather-related reductions at Prodeco.

Looking ahead to fiscal 2018, Glencore said it expects Marketing EBIT to be within the top half of the $2.2 billion to $3.2 billion long term guidance range.

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Referenced Symbols: GLCNF ,

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