Glencore Reports 15 Percent Copper Production Increase

Glencore PLC reported a 15 percent increase in copper production for the first half of fiscal 2026, totaling 397,000 tonnes. The growth stemmed from increased mining rates at African Copper and improved grades at Antamina in Peru, though these gains were partially offset by the planned closure of the Mount Isa mine in Australia.

While copper and silver outputs rose, the company experienced declines in gold, zinc, lead, and coal. Cobalt production fell by 46 percent, a drop primarily attributed to the export quota regime implemented by the government of the Democratic Republic of Congo.

Following the production report, Glencore shares rose over 4 percent on the Johannesburg Stock Exchange. The company reaffirmed its full-year 2026 production guidance for nickel, zinc, and copper. It slightly adjusted the mid-points for energy and steelmaking coal output, increasing the former by 1 million tonnes and decreasing the latter by 1 million tonnes.