Drilling/Production Report

RNS Number : 8639G

Glencore PLC

11 August 2016

 

Glencore plc

Baar, Switzerland

11 August, 2016

2016 Half-Year Production Report

To view the full report please click here:

http://www.glencore.com/assets/investors/doc/reports_and_results/2016/GLEN-2016-Q2-ProductionReport.pdf 

Production highlights

·     Production, as expected, was down period-on-period in commodities where we previously announced, and are delivering on, proactive supply reductions (copper, zinc, lead, coal and oil).

·     Own sourced copper production of 703,000 tonnes was 4% down on H1 2015, due to the previously announced curtailments at our African operations, partly offset by generally higher grades in South America.

·     Own sourced zinc production of 506,500 tonnes was 31% lower than H1 2015, due to the previously announced cuts implemented principally in Australia and Peru.

·     Own sourced nickel production of 57,100 tonnes was a 17% improvement, as a result of increased treatment of own feeds, following the planned Sudbury smelter shutdown in 2015.

·     Coal production of 58.8 million tonnes was 14% lower, reflecting production curtailments, disposal of Optimum Coal, the scheduled closures of two mines and some volume reductions and restrictions in Colombia.

·     Glencore's share of oil production was 4.4 million barrels, a decrease of 18%, reflecting expected depletion rates and the preservation of the resource for an improved price / margin environment.

·     Agricultural Products processed / produced 6.4 million tonnes, a 43% increase, following the acquisition of two crush plants in H2 2015, stronger crush volumes in Argentina and an earlier start to sugarcane processing in Brazil.

·     Full year 2016 production guidance is detailed on page 19 of the full report.

For further information please contact:

Investors
Martin Fewings		t: [phone]		m: [phone]		[e-mail]
Carlos Francisco Fernandez		t: [phone]		m: [phone]		[e-mail]
Media
Charles Watenphul		t: [phone]		m: [phone]		[e-mail]
Pam Bell		t: [phone]		m: [phone]		[e-mail]

www.glencore.com

 www.youtube.com/glencorevideos 

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 around 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 160,000 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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