Glencore 2025 copper output falls 11%
Copper output at Glencore Plc fell 11% last year, although higher grades and better recoveries in the second half boosted production.
The miner and trader, currently waiting for a potential takeover offer from rival Rio Tinto, said copper production in 2025 was 851,600 metric tonnes, at the lower end of forecasts of 850,000-to-875,000.
Second half copper production of more than 500kt was almost 50% above the first six months of the year, primarily due to higher copper grades and recoveries at the KCC, Mutanda, Antapaccay and Antamina mines.
Rio Tinto has until February 5 to make a firm bid. The companies said on January 8 that talks involve a possible combination of some or all of their businesses, including a potential all-share takeover of Glencore.
A combination of the duo could create the world's biggest miner with a market value of more than $200bn and the industry's biggest copper producer, controlling almost 10% of the world's output.
Reporting by Frank Prenesti for Sharecast.com
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