29th Jan 2026 08:09
(Alliance News) - Glencore PLC reported on Thursday its annual production was in line with guidance, benefitting from what it called "simplified operating structures".
The Barr, Switzerland-based commodity trading and mining company saw its copper production fall 11% to 851,600 tonnes in 2025 from 951,600 tonnes in 2024. It had estimated output at between 850,000 tonnes and 875,000.
Gold production for the full-year declined 18% to 604,000 ounces from 738,000 ounces, while silver output rose 5.9% to 20,425 ounces from 19,286 ounces.
Steelmaking production surged 63% to 32.5 million tonnes from 19.9 million tonnes, coming within a guidance range of between 30 million tonnes and 35 million tonnes. But energy coal output was down 1.6% to 98.0 million tonnes from 99.6 million tonnes, above the estimate. The projection for energy coal was between 92 million tonnes and 97 million tonnes.
Elsewhere, cobalt production was 36,100 tonnes, down 5.5% from 38,200 tonnes, while zinc production was up 7.1% to 969,400 tonnes from 905,000 tonnes.
Lead production fell 3.7% to 178,900 tonnes from 185,900 tonnes. Nickel output was 13% lower at 71,900 tonnes from 82,300 tonnes. Chrome ore output was down 1.7% to 3,613 tonnes from 3,678 tonnes.
"Glencore, for the second consecutive year, achieved full year production volumes for our key commodities within guidance ranges, reflecting the ongoing benefits of our recently optimised and simplified operating structures," Glencore Chief Executive Officer Gary Nagle said.
Glencore expects to report marketing-adjusted earnings before interest and taxes around the mid-point of its upgraded range of USD2.3 billion to USD3.5 billion in 2025.
In its revised guidance, Glencore guided for 2026 copper production of between 810,000 tonnes and 870,000.
Steelmaking coal production for 2026 is estimated at between 30 million tonnes and 32 million tonnes, while energy coal output is seen at between 95 million tonnes and 100 million tonnes.
Zinc production is estimated at between 700,000 tonnes and 740,000.
Shares in Glencore rose 2.9% to ZAR114.95 on Thursday morning in Johannesburg.
By Artwell Dlamini, Alliance News senior reporter South Africa
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