Glencore Reports Strong Commodity Output in 2025 with Copper and Zinc Surges
Glencore Boosts Copper and Zinc Production in 2025 Despite Cobalt and Ferrochrome Challenges
Glencore, listed in London and Johannesburg, reported full-year 2025 production volumes within guidance, highlighting the benefits of streamlined operating structures.
Copper production in the second half exceeded 500,000 tonnes, nearly 50% higher than the first half, reflecting grade-related uplifts at key operations including KCC, Antamina, and Antapaccay.
Total own-sourced copper production reached 851,600 tonnes, 11% below 2024 due to lower head grades, recoveries, and mine sequencing, particularly at Collahuasi, Antamina, and Antapaccay. Production from the Mount Isa complex, recorded under zinc, fell by 13,300 tonnes following the mid-2025 closure of the MICO mine.
Cobalt output totaled 36,100 tonnes, 5% lower than the previous year, as Glencore prioritized copper production amid ongoing export restrictions in the Democratic Republic of Congo. Fourth-quarter cobalt production was 2,000 tonnes below the third quarter.
Zinc production increased 7% to 969,400 tonnes, supported by higher grades at Antamina and increased output at McArthur River. Nickel production declined 7% to 71,900 tonnes due to lower output at INO and Murrin Murrin.
Ferrochrome production fell sharply to 436,000 tonnes, 63% lower than 2024, following the suspension of operations at the Boshoek and Wonderkop smelters and extended maintenance at the Lion smelter. Chrome ore output remained stable at 3.6 million tonnes.
Steelmaking coal production reached 32.5 million tonnes, driven largely by Elk Valley Resources, acquired in July 2024, which produced 25.2 million tonnes.
Australian steelmaking coal output of 7.3 million tonnes remained consistent with the previous year. Energy coal production totaled 98 million tonnes, down 2% due to voluntary reductions at Cerrejón, partially offset by stronger Australian performance.
Glencore CEO Gary Nagle highlighted that the company expects full-year marketing-adjusted earnings before interest and tax to land near the midpoint of its $2.3–$3.5 billion long-term guidance range.
Despite the Democratic Republic of Congo lifting its cobalt export ban late in 2025, quota restrictions delayed fourth-quarter exports.
Glencore intends to manage cobalt exports in line with 2026 and 2027 allocations, prioritizing copper production where commercially viable. Excess cobalt will be stored as work-in-process or final product in-country.
Overall, the company’s 2025 results demonstrate strong performance in copper, zinc, and coal, while cobalt and ferrochrome continue to face operational and regulatory challenges.
SOURCE:miningweekly.com
