Wrap Text
GLENCORE PLC
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
HKSE Share Code: 805HK
ISIN: JE00B4T3BW64
Baar, Switzerland
11 August, 2016
2016 Half-Year Production Report
To view the full report please click here:
http://www.glencore.com/assets/investors/doc/reports_and_results/2016/GLEN-2016-Q2-
ProductionReport.pdf
Production highlights
- Production, as expected, was down period-on-period in commodities where we previously
announced, and are delivering on, proactive supply reductions (copper, zinc, lead, coal and
oil).
- Own sourced copper production of 703,000 tonnes was 4% down on H1 2015, due to the
previously announced curtailments at our African operations, partly offset by generally
higher grades in South America.
- Own sourced zinc production of 506,500 tonnes was 31% lower than H1 2015, due to the
previously announced cuts implemented principally in Australia and Peru.
- Own sourced nickel production of 57,100 tonnes was a 17% improvement, as a result of
increased treatment of own feeds, following the planned Sudbury smelter shutdown in
2015.
- Coal production of 58.8 million tonnes was 14% lower, reflecting production curtailments,
disposal of Optimum Coal, the scheduled closures of two mines and some volume
reductions and restrictions in Colombia.
- Glencore's share of oil production was 4.4 million barrels, a decrease of 18%, reflecting
expected depletion rates and the preservation of the resource for an improved price /
margin environment.
- Agricultural Products processed / produced 6.4 million tonnes, a 43% increase, following
the acquisition of two crush plants in H2 2015, stronger crush volumes in Argentina and an
earlier start to sugarcane processing in Brazil.
- Full year 2016 production guidance is detailed on page 19 of the full report.
For further information please contact:
Investors
Martin Fewings t: +41 41 709 2880 m: +41 79 737 5642 martin.fewings@glencore.com
Carlos Francisco t: +41 41 709 2369 m: +41 79 129 9195 carlos.fernandez@glencore.com
Fernandez
Media
Charles Watenphul t: +41 41 709 2462 m: +41 79 904 3320 charles.watenphul@glencore.com
Pam Bell t: +44 20 7412 3471 m: +44 77 3031 9806 pam.bell@glencore.co.uk
www.glencore.com
www.youtube.com/glencorevideos
Glencore is one of the world's largest global diversified natural resource companies and a major producer
and marketer of more than 90 commodities. The Group's operations comprise around 150 mining and
metallurgical sites, oil production assets and agricultural facilities.
With a strong footprint in both established and emerging regions for natural resources, Glencore's
industrial and marketing activities are supported by a global network of more than 90 offices located in
over 50 countries.
Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation,
oil and food processing. We also provide financing, logistics and other services to producers and
consumers of commodities. Glencore's companies employ around 160,000 people, including contractors.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the
International Council on Mining and Metals. We are an active participant in the Extractive Industries
Transparency Initiative.
Sponsor
Absa Bank Limited (acting through its Corporate and Investment Bank Division)
Date: 11/08/2016 08:04:00 Supplied by www.sharenet.co.za
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