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Glencore plc reported a robust performance in their third-quarter production, showcasing significant improvements across their key commodities. This strong performance is highlighted by the notable increase in copper output and a maintained full-year guidance.
Glencore’s own-sourced copper production reached an impressive 598,600 tonnes in the first nine months of the year. This figure marks a 3% increase compared to the same period in 2025, and a remarkable 12% increase when adjusted for the Mount Isa copper closure and the Kidd mine disposal. The third quarter alone saw a 2% increase from the previous quarter, with copper output reaching 201,600 tonnes.
Nickel production also experienced growth, with a 1% increase in the third quarter. Meanwhile, steelmaking coal output saw a substantial 14% quarter-on-quarter rise to 8 million tonnes. Energy coal output also improved, rising by 8% to a total of 26.5 million tonnes.
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Ferrochrome production showed significant improvement as Glencore continued its efforts to restart smelting operations. As a result, attributable output increased by 29% from the second quarter.
According to Chief Executive Gary Nagle, the company’s key assets have largely performed in line with expectations, underlining the strength of their operational strategies.
Glencore has maintained its production guidance for 2026. Copper production is expected to be towards the lower end of the 810,000 to 870,000-tonne range. Zinc production is anticipated to reach the upper end of the 700,000 to 740,000-tonne range, while nickel is forecasted to align around the middle of its guidance.
The company reiterated its expectations for the 2026 Marketing adjusted EBIT, projecting it to exceed US$5 billion. This optimistic financial outlook reflects Glencore’s confidence in its strategic direction and market position.
In summary, Glencore’s third-quarter results not only highlight a strong production performance but also an optimistic outlook towards achieving their 2026 production and financial goals.
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The African Mining Market is a source of insightful information on mining & industrial markets, and developments in Africa.
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