{"id":8529,"date":"2024-02-02T16:06:28","date_gmt":"2024-02-02T05:06:28","guid":{"rendered":"https:\/\/yinghuiinternational.com\/?p=8529"},"modified":"2024-02-04T16:08:24","modified_gmt":"2024-02-04T05:08:24","slug":"coal-still-king-for-glencore","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2024\/02\/02\/coal-still-king-for-glencore\/","title":{"rendered":"Coal still king for Glencore"},"content":{"rendered":"\n

<\/h1>\n\n\n\n

\"\"ALEXANDRA EASTWOOD<\/a><\/p>\n\n\n\n

\"Wilkie<\/figure>\n\n\n\n

<\/p>\n\n\n\n

Coal has emerged as the standout commodity from Glencore\u2019s 2023 full year production report.<\/p>\n\n\n\n

While copper, cobalt, zinc and nickel production all experienced a downturn, Glencore\u2019s coal production was three per cent higher than 2022 at 3.6 million tonnes (t).<\/p>\n\n\n\n

The number was a reflection of higher productivity in South Africa and a year over year easing in external factors that constrain capacity, such as wet weather and blockades.<\/p>\n\n\n\n

Nickel production fell by nine per cent to 97,600t, primarily due to the planned shutdown of Glencore\u2019s Murrin Murrin site in WA for routine maintenance.<\/p>\n\n\n\n

Cobalt production was six per cent lower than 2022 at 41,300t and copper production was 48,000t lower than 2022.<\/p>\n\n\n\n

Despite the slight donwturn, Glencore chief executive officer Gary Nagle remains positive.<\/p>\n\n\n\n

\u201c<\/em>Overall 2023 production was in line with our earlier revised guidance, with stronger second half volumes delivered across our key commodities, including copper, zinc, nickel and coal,\u201d he said<\/a>.<\/p>\n\n\n\n

\u201c<\/em>Compared to 2022, the moderately lower year-on-year copper and zinc department managed production volumes, primarily reflect disposals of the Cobar copper mine and various South American zinc operations.\u201d<\/p>\n\n\n\n

Looking ahead, Nagle said production is looking steady.<\/p>\n\n\n\n

\u201c<\/em>Coal production is forecast to be steady at the guidance range mid-point of 110 million tonnes, excluding any incremental volumes from the recently announced acquisition of a 77 per cent interest in Teck\u2019s steelmaking coal business, currently going through its various approval processes,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

ALEXANDRA EASTWOOD Coal has emerged as the standout commodity from Glencore\u2019s 2023 full year production report. While copper, cobalt, zinc and nickel production all experienced a downturn, Glencore\u2019s coal production was three per cent higher than 2022 at 3.6 million tonnes (t). The number was a reflection of higher productivity in South Africa and a … Continue reading “Coal still king for Glencore”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[37,6],"tags":[],"class_list":["post-8529","post","type-post","status-publish","format-standard","hentry","category-clients","category-mines-and-quarry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-2dz","jetpack-related-posts":[{"id":1646,"url":"https:\/\/yinghuiinternational.com\/index.php\/2016\/07\/13\/bids-begin-for-glencore-coal-rail-assets\/","url_meta":{"origin":8529,"position":0},"title":"Bids begin for Glencore coal rail assets","author":"yinghui","date":"July 13, 2016","format":false,"excerpt":"Initial bids for Glencore\u2019s Hunter Valley rolling stock and haulage assets are rolling in. 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