Glencore lifts coal output by 8% on yr in Jan-Sep Company,  Production & Sales,  International 2019-10-28 09:50:24

Diversified miner Glencore achieved higher output of coal in the nine months ended September 30, while copper production decreased year on year.

The company's coal production of 104 million tonnes in January to September was 7.3 million tonnes, or 8%, higher than the prior comparable period, on the back of the HVO and Hail Creek acquisitions in Australia coming into full effect and higher production at the Prodeco mine, in Colombia.

However, overall coal production was slightly offset by lower production from Cerrejon, also in Colombia.

Production of Australian thermal coal production for export up 6% to 47.8 million tonnes compared with 45 million tonnes produced in the comparable prior period.

Production from the firm's Colombian joint venture Cerrejon down 20% year on year to 6.3 million tonnes, and output from its other Colombian joint venture, Prodeco, surging 30% from 8.7 million tonnes to 11.3 million tonnes.

In South Africa, production of export-grade thermal coal dropped 23% to 10.1 million tonnes in the first nine months and output for domestic use jumped 59 from the same period of 2018 at 11.1 million tonnes, said Glencore.

In terms of coking coal, Glencore produced 6.1 million tonnes of coking coal from its Australian operations in January-September 2019, up 13% from 5.4 million tonnes a year earlier, mainly reflecting the full year contribution of Hail Creek, which was acquired in August 2018.

Meanwhile, the miner's production of Australian semi-soft coal in the first nine months surged 104% from a year earlier to 5.1 million tonnes, showed the report.

Glencore produces semi-soft and coking coal from 10 mines in Australia's Hunter Valley, which gets shipped to the seaborne market from the Port of Newcastle, and from five mines in the Queensland-based Bowen Basin, which is exported via the ports of Abbot Point, Dalrymple Bay and Gladstone.

The world's biggest shipper of seaborne coal has said it can continue to generate strong margins from high quality coal assets as demand will continue, especially in Asia, despite a clamor in developed countries for minerals associated with the transition to a greener economy.

The company's own-sourced copper production for the period under review was 47,300 tonnes, or 4%, lower year on year at 1.01 million tonnes.

Full-year 2019 copper output, excluding African copper, is expected to be around 1.01 million tonnes, while guidance for African copper was around 375,000 tonnes, making a total of just under 1.4 million tonnes versus previous guidance of around 1.45 million.

The company maintained its yearly guidance for copper of about 1.4 million tonnes.

(Writing by Becky Du  Editing by Harry Huo)
For any questions, please contact us by or +86-351-7219322.

Share this article
Connect with us

Editors Recommendations

1 China's thermal coal expected to go south amid falling demand 2020-05-29

Spot prices of Chinese domestic thermal coal are expected to fall in the near term, as demand from utilities has been weakening. Data from showed the daily coal burn at China's

2 China coking coal prices stabilize after hitting 34-mth low 2020-05-29

China's coking coal prices have been leveling off these days after touching a 34-month trough on May 20, bolstered by downstream restocking and production cuts during the "Two Sessions" (May 22-28).

3 Chinese seaborne thermal coal market shows signs of softening 2020-05-29

Chinese seaborne import thermal coal market showed signs of weakening late this week, given a dearth of sales as end buyers suspended procurement of foreign cargoes amid domestic market uncertainty.

4 QHD port coal stocks keep falling on active selling by traders 2020-05-29

Coal stockpiles at Qinhuangdao port kept decreasing as traders started actively selling off cargoes in hand after spot thermal coal market softened. The port's inventory fell 5,000 tonnes

5 China excludes clean coal projects from list eligible for green bonds 2020-05-29

China has excluded "clean coal" from a list of projects eligible for green bonds, according to long-awaited new draft guidelines published by the central bank on May 29. The new catalogue

6 China Coal Daily Track (May 29) 2020-05-29

Thermal coal Production area In Inner Mongolia, some coal mines suspended operation as their "coal sale quotas" have run out. Limited supply resulted in a small price rise at these mines.

7 China's new energy installations possibly the highest in history this yr 2020-05-29

In 2020, China's new energy installed capacity will likely reach a new high. On May 25, the National Energy Administration issued an announcement saying that the combined "newly-added dig

8 S Africa Richards Bay Apr coal exports plunge to 9-yr low 2020-05-29

Coal exports from Richards Bay Coal Terminal (RBCT), the largest coal port in South Africa, hit a nine-year low in April, as slump in flows to India and South Korea more than offset increase in volume

9 Two Sessions: Chinese delegates call for more imports of premium coking coal 2020-05-29

Chinese delegates of NPC called for more imports of premium coking coal, in order to boost green development of steel industry. Domestic steel production has been plagued by supply shorta

10 CIL coal supply to power sector dips 22% to 32 Mt in Apr on demand slump 2020-05-29

The supply of coal to the power sector by state-owned Coal India has dropped 22% to 31.95 million tonnes in April amid slump in the fuel demand in the country on account of COVID-19-induced lockdown.

Most Read Articles

1 China Apr thermal coal imports surge 88.95% on yr 2020-05-28

China's thermal coal (incl. bituminous and sub-bituminous coal, but excl. lignite) imports in April surged 88.95% compared with the corresponding month last year, official data said, reaching a record

2 China's spot thermal coal uptick stronger than expected 2020-05-26

Chinese spot thermal coal market witnessed stronger-than-expected upticks during last week, with Fenwei CCI 5500 index rising by a total 52 yuan/t to 543 yuan/t FOB and registering daily increase of o

3 Thermal coal imports for blending in India to be eliminated in FY2020-21 2020-05-26

Indian government has decided to bring to zero import of coal for blending purpose by domestic coal-based power plants in the current fiscal, and has asked state-owned CIL to enter into a pact with po

4 Indonesian thermal coal stays firm on Chinese demand; Indian buy shrinks 2020-05-25

Indonesian thermal coal prices remained resilient at the beginning of this week, bolstered by restocking demand from Chinese end users and rising Chinese domestic market. Sources said som

5 China to bolster energy reserve capacity, support unconventional gas exploration 2020-05-25

China said on May 22 it will bolster the capacity of the country's energy reserves and offer lower gas and electricity charges to key industries, as it looks to ensure energy supply and offset the imp

6 China's coal imports from Mongolia continue to rise, adding pressure to price 2020-05-26

On May 23, Mongolia exported a total 955 trucks of coal to China through two major hubs Gashunnsukhait (Ganqimaodu) and Shivee Khuren (Ceke), Mongolian media GoGo Mongolia reported. The f

7 China's commodity exchange launches thermal coal options simulation trading 2020-05-25

China's Zhengzhou Commodity Exchange (ZCE) said on its website that it will roll out thermal coal options simulation trading on May 26 to prepare for real transaction. Thermal coal contra

8 China's import thermal coal market at a crossroad after nearly 1-mth rebound 2020-05-26

Chinese seaborne import thermal coal market seems at a crossroad as Indonesian coal prices stabilized after rebounding since early May and Australian coal faced dwindling appetite. Wait-a

9 China urges top utilities to speed up transfer of 40 coal-fired power plants 2020-05-27

China has urged the country's five biggest utilities to speed up the transfer of 40 coal-fired power plants in the northwest of the country, according to a document seen by Reuters and confirmed by a

10 Bullish sentiment moderates in Chinese thermal coal market; offer prices slide 2020-05-26

After climbing fast for more than a week, Chinese domestic thermal coal market paused on May 26, as the bullish sentiment was dented by a drop in futures market and people started concerning risks of

Scan to download mobile APP