Global diversified natural resources company Glencore has reported its 2Q17 production results.
Own sourced copper production of 946 500 t was 114 700 t lower (11%) than the comparable 2016 period, reflecting the Ernest Henry minority sale in 4Q16, combined with smelter maintenance at Mount Isa in 3Q17, reduced throughput at Mutanda (due to power interruption at Mopani which impacted the supply of sulfuric acid), end of mine-life production declines at Alumbrera and the timing of lower copper grades at Antapaccay.
Own sourced zinc production of 827 400 t was 38 200 t (5%) higher than the comparable period, mainly reflecting the increase in zinc production at Antamina.
Own sourced nickel production of 80 700 t was down modestly (1700 t or 2%) on the comparable period, reflecting maintenance and higher relative use of third-party material in INO's metallurgical mix. Following its maintenance shut earlier in the year, Murrin recorded a strong 3Q17.
Coal production totalled 91 million t, which was in line with the comparable period, as expected increases from productivity improvements and Glencore's higher equity share in certain mines were offset by the impacts of industrial action in New South Wales and unusually heavy rainfall in Colombia.