Glencore’s copper production for 2017 was 8% lower than 2016, totalling just over 1.3 million t and declining by 116 000 t.
According to the mining giant, this reflected the Ernest Henry minority sale in 4Q16, end-of-life production declines at Alumbrera and various temporary effects, including lower throughput at Mutanda (due to constrained supply of sulfuric acid) and smelter maintenance at Mount Isa. However, copper production in 4Q17 was 59 600 t (20%) higher than in the 3Q17 at 363 200 t.
Nickel production finished at 109 100 t – 6000 t (5%) less than in 2016. Glencore noted that this was due to changes in the use of third party vs own sourced feeds in the INO circuit, partly offset by a strengthening operational performance at Koniambo.
Glencore also declines in coal. Its coal production totalled 121 million t for the year, which was 3% down on 2016.
Glencore’s zinc production was in line with 2016, reaching just over 1 million t, since the step-up in Antamina zinc production was offset by the disposals of the African mines to Trevali Mining, and lower production at Mount Isa.