GLNCY Glencore Plc (PK)

By Scott Patterson

LONDON--Glencore PLC (GLEN.LN) reported lower production in most of the commodities it mines and sells, including copper and coal, the result of cutbacks at its mines, asset sales and bad weather.

The Swiss mining giant on Thursday said its copper production through the third quarter fell 6% from a year ago to 1.1 million metric tons due to curbs on Africa mines, partly offset by solid production in its South America mines. For all of 2016, Glencore expects to produce about 1.4 million tons of copper, down from 1.5 million tons last year.

Zinc production so far this year fell 30% to 789,200 tons from last year, largely a result of cutbacks in mines in Australia and Peru. Nickel production was 20% higher.

Glencore's coal production--primarily thermal coal used in power plants--through the third quarter slid 11% to 92 million tons, largely due to its sale of its South Africa Optimum Coal mine as well as closures of depleted mines and bad weather in Colombia. Glencore expects to produce about 125 million tons of coal for all of 2016, down from 132 million tons in 2015.

-Write to Scott Patterson at scott.patterson@wsj.com

(END) Dow Jones Newswires

November 03, 2016 03:59 ET (07:59 GMT)

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