GLNCY Glencore Plc (PK)

   By Adria Calatayud 
 

Glencore PLC (GLEN.LN) said Tuesday that copper production fell 9% in the fourth quarter of 2019 and that it expects a further decline this year.

The Anglo-Swiss commodity trading and mining company said it produced 355,400 metric tons of tons of copper in the three months ended Dec. 31 compared with 390,600 tons in the year-earlier period.

Cobalt production during the fourth quarter was down 13% at 46,300 tons, Glencore said.

The mining company also said zinc output fell to 268,300 tons in the quarter from 282,100 tons in the same period of 2018, while total coal production rose to 35.5 million tons from 32.7 million tons a year earlier.

Glencore said it expects copper production in 2020 of around 1.3 million tons, give or take 50,000 tons. Cobalt production in 2019 is expected to be around 29,000 tons.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

February 04, 2020 02:32 ET (07:32 GMT)

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