By Oliver Griffin

Glencore PLC (GLEN.LN) on Wednesday reported a 2% fall in second-quarter copper production and cut its full-year production guidance for the metal by 1%, citing problems at its copper business in Africa.

The Anglo-Swiss commodity trading and mining company said it produced 342,300 metric tons of copper in the three months ended June 30, compared with 350,800 tons in the year-earlier period.

Cobalt and zinc production during the second quarter rose 7% each to 10,400 tons and 273,600 tons respectively, Glencore said.

The mining company also reported that total coal production during the second quarter rose 12% to 35 million tons.

Chief Executive Ivan Glasenberg said the copper business in Africa didn't meet expected performance in the first half of the year. He said the company has moved to address challenges at its Katanga mine in the Congo and has brought forward maintenance of the smelter at the Mopani mine--located in Zambia--to the end of 2019.

The company said that as a result of the maintenance, production guidance at the Mopani mine for the full year has been cut by 10,000 tons.

Glencore said that updated copper and cobalt production guidance for the full year will be provided at its half-year financial results in August.

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

(END) Dow Jones Newswires

July 31, 2019 02:43 ET (06:43 GMT)

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