You are here

Glencore reports lower commodity output after production cuts

Glencore0416.jpg
Commodity miner and trader Glencore on Wednesday reported a fall in output of copper, zinc, lead, coal and oil following a decision to cut production because of low prices.

[BRUSSELS] Commodity miner and trader Glencore on Wednesday reported a fall in output of copper, zinc, lead, coal and oil following a decision to cut production because of low prices.

It said full-year production guidance was unchanged, except for oil, where reductions in exploratory drilling would mean 0.3 million barrels less output than previously expected.

Copper production was 4 per cent lower for the first quarter versus a year ago, reflecting reductions in Africa, though partly offset by higher output from South America, the group said in a statement.

REUTERS