Glencore Reports 11% Drop in 2025 Copper Production Despite Second Half Surge
Glencore reported an 11% decline in 2025 copper production, totaling 851,600 tonnes, attributed to lower head grades and mine sequencing challenges, despite a nearly 50% increase in second-half output. Zinc production rose 7% to 969,400 tonnes, while steelmaking coal surged 63% to 32.5 million tonnes, aided by the Elk Valley Resources acquisition. The company anticipates its fiscal 2025 marketing adjusted EBIT to fall within the $2.3 billion to $3.5 billion range, with a target for 2026 copper production set between 810,000 and 870,000 tonnes.
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Glencore reported a full-year 2025 copper production of 851,600 tonnes, an 11% decrease from 2024, primarily due to lower head grades and mine sequencing issues. However, second-half copper production exceeded 500,000 tonnes, reflecting a nearly 50% increase over the first half.
Zinc production rose 7% to 969,400 tonnes, and steelmaking coal production surged 63% to 32.5 million tonnes, bolstered by the Elk Valley Resources acquisition. Cobalt production fell 5% to 36,100 tonnes, and nickel output decreased by 7% to 71,900 tonnes.
Glencore expects fiscal 2025 marketing adjusted EBIT to be around the mid-point of its guidance range of $2.3 billion to $3.5 billion. The company has indicated a target for 2026 copper production between 810,000 and 870,000 tonnes.
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