Glencore Copper Production Jumps 15% in First Half as African Operations Boost Output
Glencore Copper Production Rises 15% in H1 as African Mines Lift Output, Cobalt Falls 46%
Global mining and commodities company Glencore increased copper production by 15% in the first half of the year, supported by higher grades at key operations in Africa and at its Antamina mine in Peru.
The Swiss-based miner produced 397,000 tonnes of copper during the six months, up from 343,900 tonnes in the same period of 2025.
Glencore attributed the increase primarily to improved copper grades at its African operations and Antamina, strengthening its production performance during the first half of the year.
The company maintained its full-year copper production guidance of between 810,000 and 870,000 tonnes.
Glencore’s marketing division is also on course for a strong year. The unit is expected to generate approximately $3.3 billion in adjusted earnings before interest and tax (EBIT) during the first half, placing it close to the upper end of its full-year guidance range of $2.3 billion to $3.5 billion.
However, cobalt production declined sharply during the period as export restrictions in the Democratic Republic of Congo (DRC) continued to limit shipments.
Glencore produced 10,200 tonnes of cobalt in the first half, representing a 46% decline from the same period last year.
The company said it prioritised copper production while deferring some cobalt output for processing and sale once export restrictions are eased.
The DRC introduced a suspension of cobalt exports in 2025 in an effort to support prices after the battery metal fell to nine-year lows.
The government subsequently replaced the suspension with an export quota system in October.
Glencore is scheduled to release its full first-half financial results on August 5, with the announcement coming as a six-month standstill period restricting renewed merger discussions with Rio Tinto approaches its expiry.
The company has previously indicated its interest in transformational transactions, although its efforts to pursue a combination with Rio Tinto have so far been unsuccessful.
With copper production strengthening and its marketing division performing near the upper end of its guidance range, Glencore enters the second half of the year with momentum across its core commodities portfolio, despite continued constraints affecting cobalt output.
