By Jaime Llinares Taboada


Glencore PLC on Wednesday reported that its 2020 coal and copper production was in line with its guidance.

The FTSE 100 Anglo-Swiss mining and oil company produced 106.2 million metric tons of coal last year, down from 139.5 million tons in 2019 and at the lower end of the 106 million-112 million tons guidance range.

Copper output fell to 1.26 million tons from 1.37 million, meeting the 1.23 million-1.28 million guidance range.

Glencore's zinc production increased 9% in 2020, but cobalt output declined 41%, lead was down 7%, nickel fell 9%, and ferrochrome plunged 28%.

Precious metals production rose last year compared with 2019, with gold up 3% and silver up 2%.

In addition, oil production on an entitled interest basis decreased 29% to 3.94 million barrels.


Write to Jaime Llinares Taboada at; @JaimeLlinaresT


(END) Dow Jones Newswires

February 03, 2021 02:24 ET (07:24 GMT)

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