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Glencore plc reported a decrease in total copper production to 343.9 kt in the first half of 2025, compared to 462.6 kt a year ago. Other production figures also saw declines, including cobalt (18.9 kt vs 15.9 kt), nickel (36.6 kt vs 44.2 kt), gold (301 koz vs 369 koz), and ferrochrome (433 kt vs 599 kt). However, zinc (465.2 kt vs 417.2 kt), lead (90.9 kt vs 87.9 kt), and energy coal (48.3 mt vs 47.2 mt) production saw increases.

Glencore PLC reported mixed production results for the first half of 2025, with a notable decrease in total copper production. The company's total copper production fell to 343.9 kt in the first half of 2025, compared to 462.6 kt in the same period last year. This decline was primarily due to lower head grades and recoveries associated with planned mining sequencing [3].

Other key production figures also saw declines. Total cobalt production decreased to 18.9 kt from 15.9 kt, nickel production fell to 36.6 kt from 44.2 kt, gold production dropped to 301 koz from 369 koz, and ferrochrome production decreased to 433 kt from 599 kt [4]. However, zinc production increased to 465.2 kt from 417.2 kt, lead production rose to 90.9 kt from 87.9 kt, and energy coal production climbed to 48.3 mt from 47.2 mt [4].

Glencore's Chief Executive Officer, Gary Nagle, stated that a comprehensive review of the company's industrial asset portfolio identified opportunities to streamline operations and optimize management, leading to cost savings of approximately $1 billion by the end of 2026 [5]. The company also revised its long-term marketing adjusted earnings before interest and taxes (EBIT) guidance to between $2.3 billion and $3.5 billion a year, up from the previous estimate of between $2.2 billion and $3.2 billion [3].

Glencore's shares were up 0.8% to 308.30 pence each on Wednesday morning in London, and were 0.1% higher at R 73.27 each in Johannesburg [3].

References:
[1] Reuters. (2025, July 30). Glencore targets $1 billion savings by 2026 after copper output dips. Retrieved from https://www.reuters.com/markets/europe/glencore-targets-1-billion-savings-by-2026-after-copper-output-dips-2025-07-30/
[2] Reuters. (2025, July 30). Glencore sees $1 billion savings by 2026 after review of assets. Retrieved from https://www.tradingview.com/news/reuters.com,2025:newsml_L1N3TR06T:0-glencore-sees-1-billion-savings-by-2026-after-review-of-assets/
[3] Shares Magazine. (2025, July 30). Glencore posts mixed interim production, raises marketing guidance. Retrieved from https://www.sharesmagazine.co.uk/news/market/1753862176527213000/glencore-posts-mixed-interim-production-raises-marketing-guidance
[4] Marketscreener. (2025, July 30). Glencore plc reports production results for the first half of 2025. Retrieved from https://www.marketscreener.com/news/glencore-plc-reports-production-results-for-the-first-half-of-2025-ce7c5fdfdd8cf422
[5] Glencore. (2025, July 30). Half-year production report 2025. Retrieved from https://www.glencore.com/media-and-insights/news/half-year-production-report-2025