Glencore's copper output rises 15% in first half
2026-07-30 11:14:42 [Print]
Glencore reported on Wednesday that its first-half copper production increased by 15%, driven by higher ore grades at key operations. Meanwhile, the company's marketing division is expected to generate approximately $3.3 billion in adjusted core earnings, positioning it to significantly exceed the upper end of its full-year guidance.
The Swiss-based commodities trader and miner produced 397,000 metric tons of copper in the first six months of the year, up from 343,900 tons during the same period in 2025. The improvement was primarily attributed to enhanced grades at its African operations and the Antamina mine in Peru.
Glencore maintained its full-year production guidance at between 810,000 and 870,000 tons.
Cobalt production, however, fell 46% year-on-year to 10,200 tons in the first half, as export quotas in the Democratic Republic of Congo continued to restrict shipments. Glencore stated that it prioritized copper production and deferred some cobalt output for processing and sale until export restrictions are eased.
The Swiss-based commodities trader and miner produced 397,000 metric tons of copper in the first six months of the year, up from 343,900 tons during the same period in 2025. The improvement was primarily attributed to enhanced grades at its African operations and the Antamina mine in Peru.
Glencore maintained its full-year production guidance at between 810,000 and 870,000 tons.
Cobalt production, however, fell 46% year-on-year to 10,200 tons in the first half, as export quotas in the Democratic Republic of Congo continued to restrict shipments. Glencore stated that it prioritized copper production and deferred some cobalt output for processing and sale until export restrictions are eased.
LNCMO 8312 PC Delivered China
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China cobalt metal producers' inventory to production ratio statistics by province by month
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