1st Quarter 2015 Production Report Announcement

RNS Number : 1568M

Glencore PLC

05 May 2015

 

Baar, Switzerland

5 May 2015

First Quarter 2015 Production Report

-      Own sourced copper production down 9% to 350,700 tonnes, reflecting grade reductions at Alumbrera and Antamina due to mine sequencing and a planned maintenance shutdown at Collahuasi.

-      Own sourced zinc production up 16% to 356,200 tonnes, driven by the expansions at Lady Loretta (Mount Isa) and McArthur River. Some temporary plant downtime at McArthur River and lower grades at Kazzinc, Matagami and Rosh Pinahresulted, however, in an 8% decline on a quarterly sequential basis.

-      Own sourced nickel production was 23,800 tonnes, up 7% relating to the higher contribution from Koniambo. Production issues at Koniambo, however, resulted in sequential quarterly production being down 8%.

-      Attributable ferrochrome production up 15% to 385,000 tonnes, driven by the Lion 2 expansion project.

-      Own sourced coal production was 35.6 million tonnes, 4% higher than the comparable period due to higher production from South Africa where two new projects were since commissioned.

-      Glencore oil entitlement production up 52% to 2.6 million barrels, reflecting the ramp-up at Badila and Mangara and the impact of higher ownership of the Chad assets following the Caracal acquisition in July 2014.

-      Overall Q1 2015 copper equivalent production was up 7% compared to Q1 2014 and sequentially in line with Q4 2014.  

To view the full report please click here: http://www.glencore.com/assets/investors/doc/reports_and_results/2015/GLEN-2015-Q1-Production-Report.pdf

For further information please contact:

Investors:                                       Media:

Paul Smith t: [phone] m: [phone] e: [e-mail]

Charles Watenphul t: [phone] m: [phone] e: [e-mail]

Investors:                                       Investors:                                  Media:

Martin Fewings t: [phone] m: [phone] e: [e-mail]

Elisa Morniroli t: [phone] m: [phone] e: [e-mail]

Pam Bell t: [phone] m: [phone] e: [e-mail]

www.glencore.com

Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities. The Group's operations comprise of over 150 mining and metallurgical sites, oil production assets and agricultural facilities.

With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of more than 90 offices located in over 50 countries.

Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, oil and food processing. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 181,000 people, including contractors.

Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.

 

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