Glencore says Q1 copper output falls, but holds guidance

30th Apr 2024 07:59

(Sharecast News) - Commodities miner and trader Glencore on Tuesday said first-quarter copper production fell 2% while cobalt output declined 37% due to lower production at its Mutanda mine in Congo.

Total copper production came in at 239,700 tonnes from 244,100 a year earlier.

Annual full-year production forecasts were left unchanged. Glencore said it now expects full-year marketing earnings before interest and tax of $3bn - $3.5bn, near the top-end of its long-term $2.2bn - $3.2bn annual forecast range.

Reporting by Frank Prenesti for Sharecast.com