Glencore will maintain its 2020 full year production guidance. The company’s copper output was bolstered by its new Katanga mine, which is slated to reach full-scale production by the end of the year.
In January-September, the company’s zinc production was up 6pc to 860,100mt, compared with 809,200mt in the same period of 2019. The rise was attributed to higher grade recovery at its Antamina facility, excluding the temporary COVID-19 related shutdown that accounted for 21,800mt in lost production. Apart from this, Glencore also restarted its Peruvian Iscaycruz mine during Q3.
In the first nine months, the miner’s copper output declined 8pc to 934,700mt in 2020 versus 1.02mn mt in the same 2019 period since its Mutanda was under care and maintenance in 2020. Production was also affected by a temporary suspension at at Antamina in Peru in Q2, partly offset by strong milling operations at Collahuasi, as well as the Katanga ramp-up.
Glencore produced 194,300mt of lead in the year till Sep 30, down 12pc compared to 219,800mt in the same period of 2019. The company also produced 5.6mn mt of coking in January-September 2020, down by 8pc against 6.1mn mt produced in the prior year.