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GLENCORE PLC - GLN - Third Quarter 2017 Production Report

Release Date: 30/10/2017 12:17
Code(s): GLN     PDF:  
Wrap Text
GLN - Third Quarter 2017 Production Report

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

NEWS RELEASE
Baar, 30 October 2017


Third Quarter 2017 Production Report
Production highlights
-      Own sourced copper production of 946,500 tonnes was 11% lower than the comparable 2016 period, reflecting
       the Ernest Henry minority sale in Q4 2016, combined with smelter maintenance at Mount Isa in Q3 2017, reduced
       throughput at Mutanda (due to power interruption at Mopani, which impacted the supply of sulphuric acid), end of
       mine-life production declines at Alumbrera and the timing of lower copper grades at Antapaccay.
-      Own sourced zinc production of 827,400 tonnes was 5% up on the comparable period, mainly reflecting the
       transition to higher zinc grade (versus copper) areas at Antamina.
-      Own sourced nickel production of 80,700 tonnes was down 2% on the comparable period, reflecting maintenance
       at INO and Murrin and a higher proportion of third party feeds in INO's metallurgical mix.
-      Attributable ferrochrome production of 1,107,000 tonnes was in line with the comparable period.
-      Coal production of 91 million tonnes was in line with the comparable period as expected increases from
       productivity improvements and Glencore’s higher equity share in certain mines were offset by the impacts of
       industrial action in New South Wales and unusually heavy rainfall in Colombia.
-      Glencore's oil entitlement production interest of 3.9 million barrels was 36% below the comparable 2016 period,
       reflecting natural field declines, having only recommenced drilling in Chad in H2 2017. The trend in Chad is
       expected to improve as the results from the single-rig drilling campaign start to be realised.
-      Full year 2017 Marketing EBIT guidance increased to $2.6 to $2.8 billion, reflecting a strong Q3 performance
       (previously $2.4 to $2.7 billion).
-      2017 investor update call scheduled for 12 December. Dial-in details will be provided on Glencore's website
       nearer the time.

For further information please contact:
Investors
Martin Fewings                  t: +41 41 709 2880      m: +41 79 737 5642          martin.fewings@glencore.com
Ash Lazenby                     t: +41 41 709 2714      m: +41 79 543 3804          ash.lazenby@glencore.com
Media
Charles Watenphul               t: +41 41 709 2462      m: +41 79 904 3320          charles.watenphul@glencore.com
www.glencore.com

Notes for Editors

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 sectors. We also provide financing, logistics and other services to producers and consumers of commodities.
Glencore's companies employ around 155,000 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.

      www.facebook.com/Glencore/
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Metals and Minerals
Production from own sources – Total (1)

                                                                    YTD          YTD        Change
                                                                    2017         2016           %

Copper                                                    kt      946.5       1,061.2         (11)
Zinc                                                      kt      827.4         789.2            5
Lead                                                      kt      210.7         219.6          (4)
Nickel                                                    kt       80.7          82.4          (2)
Gold                                                      koz       771           745            3
Silver                                                    koz    28,808        28,990          (1)
Cobalt                                                    kt       19.8          21.0          (6)
Ferrochrome                                               kt      1,107         1,106            -
Platinum                                                  koz        93           116         (20)
Palladium                                                 koz       125           164         (24)
Rhodium                                                   koz        10            13         (23)
Vanadium Pentoxide                                        mlb      15.6          15.6            -

Production from own sources – Copper assets (1)

                                                                                  YTD       YTD        Change
                                                                                  2017      2016           %

African Copper (Katanga, Mutanda, Mopani)
                                                
                                   Copper metal (2)                     kt       167.3     192.9         (13)
                                   Cobalt (3)                           kt        17.2      18.2          (5)

Collahuasi (4)
                                     Copper metal                       kt           -       1.8       (100)
                                     Copper in concentrates             kt       167.0     162.5           3
                                     Silver in concentrates             koz      2,288     2,515          (9)

Antamina (5)
                                     Copper in concentrates             kt       107.5     112.3          (4)
                                     Zinc in concentrates               kt        93.5      40.1         133
                                     Silver in concentrates             koz      5,099     5,171          (1)

Other South America (Alumbrera, Lomas Bayas, Antapaccay, Punitaqui)
                                   Copper metal                         kt        60.9      59.0           3
                                   Copper in concentrates               kt       175.8     226.9         (23)
                                   Gold in concentrates and in doré     koz        254       270          (6)
                                   Silver in concentrates and in doré   koz      1,320     1,672         (21)

Australia (Mount Isa, Ernest Henry, Townsville, Cobar)
                                      Copper metal                      kt       118.0     149.0         (21)
                                      Copper in concentrates            kt        45.1      38.5          17
                                      Gold                              koz         47        61         (23)
                                      Silver                            koz      1,300     1,297           -

Total Copper department
                                     Copper                             kt       841.6     942.9         (11)
                                     Cobalt                             kt        17.2      18.2          (5)
                                     Zinc                               kt        93.5      40.1         133
                                     Gold                               koz        301       331          (9)
                                     Silver                             koz     10,007    10,655          (6)


Production from own sources – Zinc assets (1)

                                                                               YTD       YTD     Change
                                                                               2017      2016        %

Kazzinc
                                        Zinc metal                    kt      157.1     136.6        15
                                        Lead metal                    kt       41.2      32.2        28
                                        Lead in concentrates          kt        4.7      13.7       (66)
                                        Copper metal (2)              kt       34.2      41.5       (18)
                                        Gold                          koz       444       384        16
                                        Silver                        koz     4,445     3,233        37
                                        Silver in concentrates        koz       125       440       (72)

Australia (Mount Isa, McArthur River)
                                        Zinc in concentrates          kt      314.7     350.2      (10)
                                        Lead in concentrates          kt      116.9     135.1      (13)
                                        Silver in concentrates        koz     5,394     6,410      (16)

North America (Matagami, Kidd)
                                        Zinc in concentrates          kt       95.8      96.9       (1)
                                        Copper in concentrates        kt       34.0      36.3       (6)
                                        Silver in concentrates        koz     1,884     1,618       16

Other Zinc: South America (Aguilar, Los Quenuales, Contonga, Sinchi Wayra)
                                     Zinc in concentrates              kt      74.2      76.5       (3)
                                     Lead metal                        kt       9.7       9.2        5
                                     Lead in concentrates              kt      34.5      23.6       46
                                     Copper in concentrates            kt       2.1       1.6       31
                                     Silver metal                      koz      445       460       (3)
                                     Silver in concentrates            koz    5,856     5,419        8

Other Zinc: Africa (Rosh Pinah, Perkoa)
                                     Zinc in concentrates             kt       92.1      88.9         4
                                     Lead in concentrates             kt        3.7       5.8       (36)
                                     Silver in concentrates           koz       157       229       (31)

Total Zinc department
                                        Zinc                          kt      733.9     749.1        (2)
                                        Lead                          kt      210.7     219.6        (4)
                                        Copper                        kt       70.3      79.4       (11)
                                        Gold                          koz       444       384        16
                                        Silver                        koz    18,306    17,809         3

Production from own sources – Nickel assets (1)

                                                                                YTD       YTD     Change
                                                                                2017      2016        %

Integrated Nickel Operations (“INO”) (Sudbury, Raglan, Nikkelverk)
                                    Nickel metal                      kt        43.4      47.3       (8)
                                    Nickel in concentrates            kt         0.4       0.4        -
                                    Copper metal                      kt        12.0      12.0        -
                                    Copper in concentrates            kt        22.6      26.9      (16)
                                    Cobalt metal                      kt         0.6       0.7      (14)
                                    Gold                              koz         25        29      (14)
                                    Silver                            koz        495       526       (6)
                                    Platinum                          koz         56        71      (21)
                                    Palladium                         koz        102       137      (26)
                                    Rhodium                           koz          4         5      (20)

Murrin Murrin
                                    Nickel metal                      kt        24.6      25.2       (2)
                                    Cobalt metal                      kt         2.0       2.1       (5)
Koniambo                            Nickel in ferronickel             kt        12.3       9.5       29

Total Nickel department
                                    Nickel                            kt        80.7      82.4       (2)
                                    Copper                            kt        34.6      38.9      (11)
                                    Cobalt                            kt         2.6       2.8       (7)
                                    Gold                              koz         25        29      (14)
                                    Silver                            koz        495       526       (6)
                                    Platinum                          koz         56        71      (21)
                                    Palladium                         koz        102       137      (26)
                                    Rhodium                           koz          4         5      (20)

Production from own sources – Ferroalloys assets (1)

                                                                                    YTD       YTD    Change
                                                                                   2017      2016         %
               
Ferrochrome (6)                                                        kt          1,107     1,106        -

PGM (7)                              Platinum                          koz            37        45      (18)
                                     Palladium                         koz            23        27      (15)
                                     Rhodium                           koz             6         8      (25)
                                     Gold                              koz             1         1        -
                                     4E                                koz            67        81      (17)

Vanadium Pentoxide                                                     mlb          15.6      15.6        -

Total production – Custom metallurgical assets (1)
                                                                                     YTD       YTD      Change
                                                                                    2017      2016           %

Copper (Altonorte, Pasar, Horne, CCR)
                                    Copper metal                        kt         391.6     364.1           8
                                    Copper anode                        kt         403.8     364.0          11

Zinc (Portovesme, San Juan de Nieva, Nordenham, Northfleet)
                                   Zinc metal                           kt         591.8     594.3           -
                                   Lead metal                           kt         143.9     166.7         (14)
                                   Silver                               koz       10,355    10,575          (2)

Ferroalloys
                                   Ferromanganese                       kt           118       103           15
                                   Silicon Manganese                    kt            45        67          (33)

1   Controlled industrial assets and joint ventures only. Production is on a 100% basis, except as stated.
2   Copper metal includes copper contained in copper concentrates and blister.
3   Cobalt contained in concentrates and hydroxides.
4   The Group’s pro-rata share of Collahuasi production (44%).
5   The Group’s pro-rata share of Antamina production (33.75%).
6   The Group’s attributable 79.5% share of the Glencore-Merafe Chrome Venture.
7   Consolidated 50% of Mototolo and 100% of the Group's PGM recovery plant.


Selected average commodity prices

                                                                                 YTD         YTD     Change
                                                                                 2017        2016         %

S&P GSCI Industrial Metals Index                                                  330         263        25
LME (cash) copper price ($/t)                                                   5,957       4,731        26
LME (cash) zinc price ($/t)                                                     2,780       1,955        42
LME (cash) lead price ($/t)                                                     2,257       1,778        27
LME (cash) nickel price ($/t)                                                  10,017       9,214         9
Gold price ($/oz)                                                               1,252       1,259        (1)
Silver price ($/oz)                                                                17          17         -
Metal Bulletin cobalt price 99.3% ($/lb)                                           24          11       118
Metal Bulletin ferrochrome 6-8% C basis 60% Cr, max 1.5% Si (¢/lb)                129          82        57
Iron ore (Platts 62% CFR North China) price ($/DMT)                                73          54        35

OPERATING HIGHLIGHTS

Copper assets
Own sourced copper production of 946,500 tonnes was 114,700 tonnes lower (11%) than the comparable 2016 period,
reflecting the Ernest Henry minority sale in Q4 2016, combined with smelter maintenance at Mount Isa in Q3 2017,
reduced throughput at Mutanda (due to power interruption at Mopani which impacted the supply of sulphuric acid), end of
mine-life production declines at Alumbrera and the timing of lower copper grades at Antapaccay.

African copper
Own sourced copper production of 167,300 tonnes was 25,600 tonnes (13%) down on the comparable period.
Throughput at Mutanda was impacted by power supply constraints at Mopani, resulting in lower acid availability for
Mutanda processing, while heavy rainfall earlier in the year led to ore handling difficulties. Power has since been restored
at Mopani.
Cobalt production of 17,200 tonnes was within 5% of the comparable period.

Collahuasi
Glencore's share of copper production was 167,000 tonnes, slightly ahead of the comparable period.

Antamina
Glencore's share of copper production was 107,500 tonnes, down 4% on the comparable period, while Glencore's share
of zinc production was 93,500 tonnes, up 133%, in each case reflecting the mine plan and inherent nature of the ore
deposit, currently providing more copper/zinc ores.

Other South America
Own sourced copper production of 236,700 tonnes was 49,200 tonnes (17%) below the comparable period, reflecting the
expected lower production as Alumbrera nears its end-of-life, as well as an expected transition to lower copper grades at
Antapaccay during the quarter.

Australia
Own sourced copper production of 163,100 tonnes was 24,400 tonnes (13%) below the comparable period, mainly
reflecting the sale of a 30% economic interest in the Ernest Henry mine in Q4 2016, combined with smelter maintenance
in Q3 2017.

Custom metallurgical assets
Copper cathode production of 391,600 tonnes was 27,500 tonnes (8%) higher than the comparable period, mainly
reflecting a stable Pasar performance since its expansion, notwithstanding short-term disruption, including grid power
loss, caused by an earthquake in July 2017. Copper anode production of 403,800 tonnes was 39,800 tonnes (11%)
higher, reflecting higher feed grades at Altonorte and Pasar's ramp-up, albeit this was similarly affected by the
earthquake and subsequent power loss.

Zinc assets
Own sourced zinc production of 827,400 tonnes was 38,200 tonnes (5%) higher than the comparable period, mainly
reflecting the increase in zinc production at Antamina noted above.

Kazzinc
Own sourced zinc production of 157,100 tonnes was 20,500 tonnes (15%) higher than the comparable period, reflecting
the prioritised processing of some site work-in-process. Total zinc production, including third party material, was 6,300
tonnes (3%) ahead of the comparable period.

Own sourced lead production of 45,900 tonnes was in line with the comparable period, with a greater proportion of own
sourced lead smelted at Kazzinc's smelter versus sold as concentrate. Total lead production of 116,500 tonnes was in
line with the comparable period.

Own sourced copper production of 34,200 tonnes was 7,300 tonnes (18%) lower than the comparable period reflecting a
planned smelter shutdown in Q3 2017.

Own sourced gold production of 444,000 ounces was 60,000 ounces (16%) higher than the comparable period, mainly
reflecting improved grades and recoveries at Vasilkovsky.

Australia
Zinc production of 314,700 tonnes was 35,500 tonnes (10%) below the comparable period, and lead production of
116,900 tonnes was 18,200 tonnes (13%) below the comparable period, mainly reflecting expected mine planning
changes.

North America
Zinc production of 95,800 tonnes was in line with the comparable period, while copper production of 34,000 tonnes was
2,300 tonnes (6%) lower. At Kidd mine, Q3 zinc production of 11,400 tonnes reduced by ~50% versus earlier quarters in
2017, which is within the expected variability of grades at this stage of its mine life. Higher grades are expected to be
mined in Q4 2017.

Other Zinc
The South American assets produced 74,200 tonnes of zinc, largely consistent with the comparable period. Lead
production of 44,200 tonnes was 11,400 tonnes (35%) higher than the comparable period, mainly relating to head grades
at Aguilar in Argentina.

The African assets produced 92,100 tonnes of zinc and 3,700 tonnes of lead up to 31 August 2017, at which time they
were sold to Trevali Mining.

European custom metallurgical assets
Zinc production of 591,800 tonnes was in line with the comparable period. Lead production of 143,900 tonnes was
22,800 tonnes (14%) lower, reflecting a change in the feed mix at the European operations.

Nickel assets
Own sourced nickel production of 80,700 tonnes was down modestly (1,700 tonnes or 2%) on the comparable period,
reflecting maintenance and higher relative use of third-party material in INO's metallurgical mix. Following its
maintenance shut earlier in the year, Murrin recorded a strong Q3 2017.

Integrated Nickel Operations (“INO”)
Own sourced nickel production of 43,800 tonnes was 3,900 tonnes (8%) below the comparable period, reflecting
maintenance and a higher proportion of third-party feeds in the metallurgical mix. Total production including such feeds
was 65,600 tonnes, down 4,300 tonnes (6%).

Murrin Murrin
Own sourced nickel production of 24,600 tonnes was in line with the comparable period. The impact of the maintenance
shut in the first half was largely offset by a strong Q3 2017 performance.

Koniambo
Production of 12,300 tonnes was 2,800 tonnes (29%) higher than the comparable period, reflecting an improvement in
the plant's operating performance.

Ferroalloys assets
Ferrochrome
Attributable ferrochrome production of 1,107,000 tonnes was in line with the comparable period. Q3 production of
271,000 tonnes was 73,000 tonnes (21%) below Q3 2016, reflecting timing of furnace refurbishments to optimise stock
levels.

Platinum Group Metals (“PGM”)
Concentrate production at Mototolo was temporarily halted in August 2017 to enable strengthening of the tailings dam.
As a result, Glencore's share of Mototolo production was 65,000 ounces, down 16,000 ounces (20%) on the comparable
period. Such strengthening work is expected to be complete by the end of 2017. In the meantime, mining operations are
continuing, with ore stockpiled for later processing.

In Q3 2017, the Group commenced operation of a PGM recovery plant at Eastern Chrome Mines. Annual production of
~10,000 ounces is targeted once the plant is in steady-state operations.

Vanadium
Vanadium pentoxide production of 15.6 million pounds was in line with the comparable period.

Manganese
Production of 163,000 tonnes was 7,000 tonnes (4%) below the comparable period, reflecting a furnace lining
replacement earlier in the year. The current quarter's production of 65,000 tonnes was 12,000 tonnes (23%) ahead of Q3
2016.

Energy Products
Production from own sources

Coal assets (1)
                                                                                                                      YTD          YTD        Change
                                                                                                                      2017         2016           %

Australian coking coal                                                                                mt              4.5           3.6            25
Australian semi-soft coal                                                                             mt              3.2           3.1             3
Australian thermal coal (export)                                                                      mt             37.4          37.8            (1)
Australian thermal coal (domestic)                                                                    mt              4.9           4.6             7
South African thermal coal (export)                                                                   mt             14.1          12.9             9
South African thermal coal (domestic)                                                                 mt              7.5           9.0           (17)
Prodeco                                                                                               mt             11.7          13.0           (10)
Cerrejón (2)                                                                                          mt              7.7           7.9            (3)
Total Coal department                                                                                 mt             91.0          91.9            (1)

1 Controlled industrial assets and joint ventures only. Production is on a 100% basis except for joint ventures, where the Group’s attributable share of
  production is included.
2 The Group’s pro-rata share of Cerrejón production (33.3%).


Oil assets

                                                                                                                      YTD          YTD        Change
                                                                                                                      2017         2016           %

Glencore entitlement interest basis
Equatorial Guinea                                                                                      kbbl         1,955        2,921          (33)
Chad                                                                                                   kbbl         1,931        3,105          (38)
Total Oil department                                                                                   kbbl         3,886        6,026          (36)

Gross basis
Equatorial Guinea                                                                                      kbbl         9,193       13,600          (32)
Chad                                                                                                   kbbl         2,190        4,245          (48)
Total Oil department                                                                                   kbbl        11,383       17,845          (36)

Selected average commodity prices

                                                                                                                      YTD          YTD        Change
                                                                                                                     2017         2016             %

S&P GSCI Energy Index                                                                                                 172          144            19
Coal API4 ($/t)                                                                                                        82           57            44
Coal Newcastle (6,000 kcal/kg) ($/t)                                                                                   84           60            40
Oil price – Brent ($/bbl)                                                                                              53           43            23

OPERATING HIGHLIGHTS

Coal assets
Coal production of 91 million tonnes was in line with the comparable period, as expected increases from productivity
improvements and Glencore's higher equity share in certain mines were offset by the impacts of industrial action in New
South Wales and unusually heavy rainfall in Colombia.

Australian coking
Production of 4.5 million tonnes was 0.9 million tonnes (25%) ahead of the comparable period, which was affected by
geological issues at Oaky Creek. The restart of the Integra mine contributed 0.4 million tonnes.

Australian thermal and semi-soft
Production of 45.5 million tonnes was in line with the comparable period, as expected increases from the higher equity
ownership of the Newlands and Collinsville mines, productivity increases in H1 2017 and the ramp-up of Rolleston, were
offset by planned mine closures and the impact of industrial action in New South Wales.

South African thermal
Production of 21.6 million tonnes was in line with the comparable period as stronger operating performances at
Tweefontein and Goedgefonden were offset by planned smaller mine closures.
Prodeco
Production of 11.7 million tonnes was 1.3 million tonnes below the comparable period, mainly relating to the impact of
unusually heavy rainfall in the region in Q2 and Q3.

Cerrejón
Production of 7.7 million tonnes was in line with the comparable period, as the easement of restrictions related to dust
emissions in 2016, was offset by disruption related to heavy rainfall.
Oil assets
Glencore's oil entitlement production interest of 3.9 million barrels was 36% below the comparable 2016 period, reflecting
natural field declines, having only recommenced drilling in Chad in H2 2017. The trend in Chad is expected to improve as
the results from the single-rig drilling campaign start to be realised.

Appendix:
Production by Quarter – Q3 2016 to Q3 2017

Metals and Minerals
Production from own sources – Total (1)
                                    Copper            Zinc               Lead         Nickel          Gold            Silver
                                         kt             kt                  kt            kt           koz              koz
Q3 2016                               358.2          282.7                74.3          25.3           273           10,177
Q4 2016                               364.6          304.9                74.6          32.7           282           10,079
Q1 2017                               324.1          279.2                68.9          24.9           259            9,295
Q2 2017                               318.8          291.6                70.3          26.3           265           10,215
Q3 2017                               303.6          256.6                71.5          29.5           247            9,298
YTD 2017                              946.5          827.4               210.7          80.7           771           28,808
YTD 2016                            1,061.2          789.2               219.6          82.4           745           28,990
Change YTD 17 vs YTD 16                                                                                                    
%                                       (11)             5                  (4)          (2)             3               (1)
Change Q3 17 vs Q3 16
%                                       (15)            (9)                 (4)          17            (10)              (9)
                                                                           

                                                                                                                      Vanadium
                                  Cobalt  Ferrochrome                Platinum      Palladium      Rhodium            Pentoxide
                                      kt           kt                     koz            koz          koz                  mlb
Q3 2016                              8.3          344                      35             44            5                  5.5
Q4 2016                              7.3          417                      32             45            3                  5.5
Q1 2017                              6.3          439                      37             46            4                  5.1
Q2 2017                              6.4          397                      28             36            4                  4.4
Q3 2017                              7.1          271                      28             43            2                  6.1
YTD 2017                            19.8        1,107                      93            125           10                 15.6
YTD 2016                            21.0        1,106                     116            164           13                 15.6
Change YTD 17 vs YTD 16
%                                     (6)           -                     (20)           (24)         (23)                   -
Change Q3 17 vs Q3 16
%                                    (14)         (21)                    (20)            (2)          11                  (60)
                                                              
Production from own sources – Copper assets (1)

                                                          Q3           Q4         Q1        Q2            Q3
                                                        2016         2016       2017      2017          2017

African Copper (Katanga, Mutanda, Mopani)
Mutanda          Copper metal (2)         kt            53.4         51.0       48.8      47.7          44.1
                 Cobalt (3)               kt             7.3          6.3        5.7       5.5           6.0
Mopani           Copper metal             kt             9.3         10.5        8.1       6.9          11.7
 
African Copper - total production including third party feed
Mutanda          Copper metal (2)         kt            53.4         51.0       48.8      51.7          45.1
                 Cobalt (3)               kt             7.3          6.3        5.7       5.5           6.0
Mopani           Copper metal             kt            27.1          28.4      21.9      12.5          23.7
                 Total Copper metal (2)   kt            62.7          61.5      56.9      54.6          55.8
                 Total Cobalt (3)         kt             7.3           6.3       5.7       5.5           6.0
Collahuasi (4)   Copper metal             kt             0.3           0.3         -         -             -
                 Copper in concentrates   kt            56.7          58.3      57.6      51.0          58.4
                 Silver in concentrates   koz            865           761       774       748           766
                                          
Antamina (5)     Copper in concentrates   kt            35.4          33.2      30.3      40.0          37.2
                 Zinc in concentrates     kt            18.3          26.7      24.5      34.5          34.5
                 Silver in concentrates   koz          1,494         1,607     1,445     1,882         1,772
                                          
Other South America (Alumbrera, Lomas Bayas, Antapaccay, Punitaqui)
Alumbrera        Copper in concentrates   kt            20.1          24.5      11.4       9.1           7.3
                 Gold in concentrates and koz             64            71        48        49            53
                 in doré 
                 Silver in concentrates               
                 and in doré              koz            165           268       119        79             64
Lomas Bayas      Copper metal             kt            19.7          21.0      20.3      20.7           19.9
                            
Antapaccay       Copper in concentrates   kt            59.0          55.6      46.4      50.1           47.3
                 Gold in concentrates     koz             32            37        29        26             34
                 Silver in concentrates   koz            419           402       326       324            359
                                          
                                          
                                                         YTD       YTD         Change         Change
                                                        2017      2016      YTD 17 vs       Q3 17 vs
                                                                               YTD 16          Q3 16
                                                                                    %              %
African Copper (Katanga, Mutanda, Mopani)
Mutanda          Copper metal (2)         kt           140.6     162.3            (13)           (17)
                 Cobalt (3)               kt            17.2      18.2             (5)           (18)
Mopani           Copper metal             kt            26.7      30.6            (13)            26

African Copper - total production including third party feed
Mutanda          Copper metal (2)         kt           145.6     162.3            (10)           (16)
                 Cobalt (3)               kt            17.2      18.2             (5)           (18)
Mopani           Copper metal             kt            58.1      81.6            (29)           (13)

                 Total Copper metal (2)   kt           167.3     192.9            (13)           (11)
                 Total Cobalt (3)         kt            17.2      18.2             (5)           (18)
Collahuasi (4)   Copper metal             kt               -       1.8           (100)          (100)
                 Copper in concentrates   kt           167.0     162.5              3              3
                 Silver in concentrates   koz          2,288     2,515             (9)           (11)
Antamina (5)     Copper in concentrates   kt           107.5     112.3             (4)             5
                 Zinc in concentrates     kt            93.5      40.1            133             89
                 Silver in concentrates   koz          5,099     5,171             (1)            19

Other South America (Alumbrera, Lomas Bayas, Antapaccay, Punitaqui)
Alumbrera        Copper in concentrates   kt            27.8      57.4            (52)           (64)
                 Gold in concentrates and koz            150       185            (19)           (17)
                 in doré 
                 Silver in concentrates   koz            262       480             (45)          (61)          
                 and in doré                         
Lomas Bayas      Copper metal             kt            60.9      59.0               3             1
Antapaccay       Copper in concentrates   kt           143.8     164.3             (12)          (20)
                 Gold in concentrates     koz             89        78              14             6
                 Silver in concentrates   koz          1,009     1,134             (11)          (14)
                                          
                                                          Q3        Q4         Q1        Q2        Q3
                                                        2016      2016       2017      2017      2017

Punitaqui        Copper in concentrates    kt            1.7       1.8        1.6       1.2       1.4
                 Gold in concentrates      koz             3         4          5         6         4
                 Silver in concentrates    koz            21        24         18        17        14

Punitaqui - total production including third party  feed                 
                 Copper in concentrates    kt            2.7       2.4        2.2       1.9       2.0
                 Gold in concentrates      koz             3         4          6         5         5
                 Silver in concentrates    koz            29        32         24        25        18
                                                  
                 Total Copper metal        kt           19.7      21.0       20.3      20.7      19.9
                 Total Copper in           kt           80.8      81.9       59.4      60.4      56.0
                 concentrates
                 Total Gold in             koz            99       112         82        81        91
                 concentrates and in doré
                 Total Silver in           koz           605       694        463       420       437
                 concentrates and in doré       
                       
Australia (Mount Isa, Ernest Henry, Townsville, Cobar)
Mount Isa, Ernest Copper metal              kt          50.7       56.1      48.5     42.5     27.0
Henry, Townsville Copper in concentrates    kt             -          -         -       -       7.4
                  Gold                      koz           25         25        17      21         9
                  Silver                    koz          418        343       261      196      387
                  Silver in concentrates    koz            -          -         -       -        38
                                               
Mount Isa, Ernest Henry, Townsville - total production including third party feed
                  Copper metal              kt          69.5       64.6      54.8     62.8     49.2
                  Copper in concentrates    kt             -          -         -       -       7.4
                  Gold                      koz           42         34        46      43        33
                  Silver                    koz          533        525       349      432      447
                  Silver in concentrates    koz            -          -         -       -        38
                                               
Cobar             Copper in concentrates    kt          12.2       15.4      12.7     12.7     12.3
                  Silver in concentrates    koz          130        154       128      156      134
                                               
                  Total Copper              kt          50.7       56.1      48.5     42.5     27.0
                  Total Copper in           kt          12.2       15.4      12.7     12.7     19.7
                  concentrates
                  Total Gold                koz           25         25        17       21        9
                  Total Silver              koz          548        497       389      352      559
                                               
Total Copper department
                  Copper                    kt         318.5      327.7     285.7    281.9    274.0
                  Cobalt                    kt           7.3        6.3       5.7      5.5      6.0
                  Zinc                      kt          18.3       26.7      24.5     34.5     34.5
                  Gold                      koz          124        137        99      102      100
                  Silver                    ko         3,512      3,559     3,071    3,402    3,534
                                               

                                                         YTD        YTD          Change         Change
                                                        2017       2016       YTD 17 vs       Q3 17 vs
                                                                                 YTD 16          Q3 16
                                                                                      %              %
Punitaqui         Copper in concentrates     kt          4.2        5.2             (19)           (18)
                  Gold in concentrates       koz          15          7             114              33
                  Silver in concentrates     koz          49         58             (16)            (33)

Punitaqui - total production including third party feed              
                  Copper in concentrates kt              6.1        8.1             (25)            (26)
                  Gold in concentrates        koz         16          8             100              67
                  Silver in concentrates      koz         67         86             (22)            (38)
                                                  
                  Total Copper metal          kt        60.9       59.0               3               1
                  Total Copper in             kt       175.8      226.9             (23)            (31)
                  concentrate
                  Total Gold in               koz        254        270              (6)             (8)
                  concentrates and in doré
                  Total Silver in             koz      1,320      1,672             (21)            (28)
                  concentrates and in doré

Australia (Mount Isa, Ernest Henry, Townsville, Cobar)
Mount Isa, Ernest Copper metal                 kt      118.0      149.0             (21)            (47)
Henry, Townsville Copper in concentrates       kt        7.4          -             n.m.            n.m.
                  Gold                         koz        47         61             (23)            (64)
                  Silver                       koz       844        908              (7)             (7)
                  Silver in concentrates       koz        38          -             n.m.            n.m.
                                                  
Mount Isa, Ernest Henry, Townsville - total production including third party feed
                  Copper metal                 kt      166.8      210.9             (21)            (29)
                  Copper in concentrates       kt        7.4          -             n.m.            n.m.
                  Gold                         koz       122        101              21             (21)
                  Silver                       koz     1,228      1,746             (30)            (16)
                  Silver in concentrates       koz        38          -             n.m.            n.m.
                                                  
Cobar             Copper in concentrates       kt       37.7       38.5              (2)              1
                  Silver in concentrates       koz       418        389               7               3
                                                  
                  Total Copper                 kt      118.0      149.0             (21)            (47)
                  Total Copper in              kt       45.1       38.5              17              61
                  concentrates
                  Total Gold                   koz        47         61             (23)            (64)
                  Total Silver                 koz     1,300      1,297               -               2
                                               
Total Copper department
                  Copper                       kt      841.6      942.9             (11)            (14)
                  Cobalt                       kt       17.2       18.2              (5)            (18)
                  Zinc                         kt       93.5       40.1              133              89
                  Gold                         koz       301        331               (9)            (19)
                  Silver                       koz    10,007     10,655               (6)              1
                                             
Production from own sources – Zinc assets (1)

                                                        Q3         Q4          Q1            Q2         Q3
                                                      2016       2016        2017          2017       2017

Kazzinc
                   Zinc metal               kt        47.4       51.0        48.1          54.1       54.9
                   Lead metal               kt         8.1       11.8        11.3          13.8       16.1
                   Lead in concentrates     kt         5.9        1.5         2.3           1.6        0.8
                   Copper metal (2)         kt        16.4       12.4        12.7          15.2        6.3
                   Gold                     koz        141        137         150           156        138
                   Silver                   koz      1,135      1,277       1,152         1,702      1,591
                   Silver in concentrates   koz        238         29          55            51         19

Kazzinc - total production including third party feed         
                   Zinc metal               kt        76.0       77.4        75.3          77.2       81.9
                   Lead metal               kt        33.2       32.3        36.5          36.9       38.4
                   Lead in concentrates     kt         5.9        1.5         2.3           1.6        0.8
                   Copper metal             kt        19.3       15.3        15.2          18.9        7.8
                   Gold                     koz        181        175         172           187        169
                   Silver                   koz      6,507      6,346       5,572         6,396      5,201
                   Silver in concentrates   koz        238         29          55            51         19

Australia (Mount Isa, McArthur River) 
Mount Isa          Zinc in concentrates     kt       70.4        75.3        68.7          64.0       51.3
                   Lead in concentrates     kt       37.0        39.5        31.8          30.1       27.2
                   Silver in concentrates   koz     1,891       2,038       1,658         1,539      1,251
McArthur River     Zinc in concentrates     kt       48.1        62.9        46.9          38.2       45.6
                   Lead in concentrates     kt        9.7        10.8         8.7           8.3       10.8
                   Silver in concentrates   koz       347         293         277           269        400

                   Total Zinc in            kt      118.5       138.2       115.6         102.2       96.9
                   concentrates
                   Total Lead in            kt       46.7        50.3        40.5          38.4       38.0
                   concentrates
                   Total Silver in          koz     2,238       2,331       1,935         1,808      1,651
                   concentrates

North America (Matagami, Kidd, Brunswick, CEZ Refinery)
Matagami           Zinc in concentrates     kt       14.6        11.0        11.0          14.0       13.2
                   Copper in concentrates   kt        2.5         1.8         2.0           2.1        1.3
Kidd               Zinc in concentrates     kt       24.0        22.2        24.0          22.2       11.4
                   Copper in concentrates   kt        9.8         9.9        10.3           9.2        9.1
                   Silver in concentrates   koz       739         674         663           842        379

                   Total Zinc in            kt       38.6        33.2        35.0          36.2       24.6
                   concentrates in
                   Total Copper             kt       12.3        11.7        12.3          11.3       10.4
                   concentrates
                   Total Silver in          koz       739         674         663           842        379
                   concentrates

North America - total production including third party feed
Brunswick Smelter  Lead metal               kt       19.6        16.4        15.7          16.5       17.6
                   Silver metal             koz     6,295       5,048       4,232         3,480      5,025
CEZ Refinery (6)   Zinc metal               kt       17.0        18.1        12.5          12.6        8.5


                                                      YTD         YTD        Change        Change
                                                     2017        2016     YTD 17 vs      Q3 17 vs
                                                                             YTD 16         Q3 16
                                                                                  %             %
Kazzinc
                    Zinc metal              kt      157.1       136.6            15            16
                    Lead metal              kt       41.2        32.2            28            99
                    Lead in concentrates    kt        4.7        13.7           (66)          (86)
                                  2
                    Copper metal            kt       34.2        41.5           (18)          (62)
                    Gold                    koz       444         384            16            (2)
                    Silver                  koz     4,445       3,233            37            40
                    Silver in concentrates  koz       125         440           (72)          (92)
  
Kazzinc - total production including third
party feed          Zinc metal              kt      234.4       228.1             3             8
                    Lead metal              kt      111.8       101.3            10            16
                    Lead in concentrates    kt        4.7        13.7           (66)          (86)
                    Copper metal            kt       41.9        52.9           (21)          (60)
                    Gold                    koz       528         483             9            (7)
                    Silver                  koz    17,169      21,062           (18)          (20)
                    Silver in concentrates  koz       125         440           (72)          (92)

Australia (Mount Isa, McArthur River)
Mount Isa           Zinc in concentrates    kt     184.0        212.9           (14)          (27)
                    Lead in concentrates    kt      89.1        103.8           (14)          (26)
                    Silver in concentrates  koz    4,448        5,294           (16)          (34)
McArthur River      Zinc in concentrates    kt     130.7        137.3            (5)           (5)
                    Lead in concentrates    kt      27.8         31.3           (11)           11
                    Silver in concentrates  koz      946        1,116           (15)           15

                    Total Zinc in           kt     314.7        350.2           (10)          (18)
                    concentrates
                    Total Lead in           kt     116.9        135.1           (13)          (19)
                    concentrates
                    Total Silver in         koz    5,394        6,410           (16)          (26)
                    concentrates
North America (Matagami, Kidd, Brunswick, CEZ Refinery)
Matagami            Zinc in concentrates    kt      38.2         40.6            (6)          (10)
                    Copper in concentrates  kt       5.4          7.9           (32)          (48)
Kidd                Zinc in concentrates    kt      57.6         56.3             2           (53)
                    Copper in concentrates  kt      28.6         28.4             1            (7)
                    Silver in concentrates  koz    1,884        1,618            16           (49)

                    Total Zinc in           kt      95.8         96.9            (1)          (36)
                    concentrates in
                    Total Copper            kt      34.0         36.3            (6)          (15)
                    concentrates
                    Total Silver in         koz    1,884        1,618            16           (49)
                    concentrates
North America - total production including third party feed
Brunswick Smelter   Lead metal              kt      49.8         53.1            (6)          (10)
                    Silver metal            koz   12,737       15,716           (19)          (20)
CEZ Refinery (6)    Zinc metal              kt      33.6         51.2           (34)          (50)


                                                      Q3        Q4        Q1       Q2       Q3
                                                    2016      2016      2017     2017     2017

Other Zinc: South America (Aguilar, Los Quenuales, Cotonga, Sinchi Wayra)
                    Zinc in concentrates    kt      27.1      22.5      24.9     26.3     23.0
                    Lead metal              kt       3.1       3.5       2.6      3.6      3.5
                    Lead in concentrates    kt       8.0       6.1      11.3     11.4     11.8
                    Copper in concentrates  kt       0.7       0.5       0.5      0.6      1.0
                    Silver metal            koz      154       206       108      182      155
                    Silver in concentrates  koz    1,939     1,852     2,081    2,011    1,764
                                            
Other Zinc: Africa (Rosh Pinah, Perkoa)
                    Zinc in concentrates    kt      32.8      33.3      31.1     38.3     22.7
                    Lead in concentrates    kt       2.5       1.4       0.9      1.5      1.3
                    Silver in concentrates  koz      102        53        47       74       36
                                           
Total Zinc
department          Zinc                    kt     264.4     278.2     254.7    257.1    222.1
                    Lead                    kt      74.3      74.6      68.9     70.3     71.5
                    Copper                  kt      29.4      24.6      25.5     27.1     17.7
                    Gold                    koz      141       137       150      156      138
                    Silver                  koz    6,545     6,422     6,041    6,670    5,595
                                           
                                                     YTD       YTD       Change          Change
                                                    2017      2016    YTD 17 vs        Q3 17 vs
                                                                         YTD 16           Q3 16
                                                                              %               %
Other Zinc: South America (Aguilar, Los Quenuales, Cotonga, Sinchi Wayra)
                    Zinc in concentrates    kt      74.2      76.5           (3)            (15)
                    Lead metal              kt       9.7       9.2            5              13
                    Lead in concentrates    kt      34.5      23.6           46              48
                    Copper in concentrates  kt       2.1       1.6           31              43
                    Silver metal            koz      445       460           (3)              1
                    Silver in concentrates  koz    5,856     5,419            8              (9)
                                           
Other Zinc: Africa (Rosh Pinah, Perkoa)
                    Zinc in concentrates    kt      92.1      88.9            4             (31)
                    Lead in concentrates    kt       3.7       5.8          (36)            (48)
                    Silver in concentrates  koz      157       229          (31)            (65)
                                           
Total Zinc
department          Zinc                    kt     733.9     749.1           (2)            (16)
                    Lead                    kt     210.7     219.6           (4)             (4)
                    Copper                  kt      70.3      79.4          (11)            (40)
                    Gold                    koz      444       384           16              (2)
                    Silver                  koz   18,306    17,809            3             (15)
                                           
Production from own sources – Nickel assets (1)

                                                         Q3         Q4       Q1      Q2        Q3
                                                       2016       2016     2017    2017      2017

Integrated Nickel Operations (Sudbury, Raglan, Nikkelverk)
                    Nickel metal             kt        13.8       18.3     13.9    15.5      14.0
                    Nickel in concentrates   kt         0.1        0.2      0.2     0.1       0.1
                    Copper metal             kt         3.6        4.6      3.9     4.2       3.9
                    Copper in concentrates   kt         6.7        7.7      9.0     5.6       8.0
                    Cobalt metal             kt         0.2        0.3      0.1     0.3       0.2
                    Gold                     koz          8          8       10       7         8
                    Silver                   koz        120         98      183     143       169
                    Platinum                 koz         21         19       23      13        20
                    Palladium                koz         36         36       37      27        38
                    Rhodium                  koz          2          1        2       1         1
                                                  
Integrated Nickel Operations - total production including third party feed
                    Nickel metal             kt        23.3       23.3     22.6    21.2      21.4
                    Nickel in concentrates   kt         0.1        0.2      0.2     0.1       0.1
                    Copper metal             kt         7.1        6.9      5.9     5.9       5.9
                    Copper in concentrates   kt         7.8        9.1     10.2     6.5       9.6
                    Cobalt metal             kt         0.7        1.0      0.8     1.0       0.8
                    Gold                     koz         10         11       13       9        11
                    Silver                   koz        195        141      275     211       258
                    Platinum                 koz         28         25       30      19        29
                    Palladium                koz         52         52       50      41        62
                    Rhodium                  koz          2          2        2       2         1
                                                
Murrin Murrin
                    Total Nickel metal       kt         7.5         10.1    6.2     7.3      11.1
                    Total Cobalt metal       kt         0.8          0.7    0.5     0.6       0.9

Murrin Murrin - total production including third party feed            
                    Total Nickel metal       kt         9.9         13.2    8.2     9.5      13.0
                    Total Cobalt metal       kt         0.9          0.8    0.5     0.8       0.9

Koniambo            Nickel in ferronickel    kt         3.9          4.1    4.6     3.4       4.3

Total Nickel department
                    Nickel                   kt        25.3         32.7    24.9   26.3      29.5
                    Copper                   kt        10.3         12.3    12.9    9.8      11.9
                    Cobalt                   kt         1.0          1.0     0.6    0.9       1.1
                    Gold                     koz          8            8      10      7         8
                    Silver                   koz        120           98     183    143       169
                    Platinum                 koz         21           19      23     13        20
                    Palladium                koz         36           36      37     27        38
                    Rhodium                  koz          2            1       2      1         1
                                                 

                                                          YTD           YTD           Change        Change
                                                         2017          2016        YTD 17 vs      Q3 17 vs
                                                                                      YTD 16         Q3 16
                                                                                           %             %
Integrated Nickel Operations (Sudbury, Raglan, Nikkelverk)
                    Nickel metal             kt          43.4          47.3               (8)            1
                    Nickel in concentrates   kt           0.4           0.4                -             -
                    Copper metal             kt          12.0          12.0                -             8
                    Copper in concentrates   kt          22.6          26.9              (16)           19
                    Cobalt metal             kt           0.6           0.7              (14)            -
                    Gold                     koz           25            29              (14)            -
                    Silver                   koz          495           526               (6)           41
                    Platinum                 koz           56            71              (21)           (5)
                    Palladium                koz          102           137              (26)            6
                    Rhodium                  koz            4             5              (20)          (50)
                                                 
Integrated Nickel Operations - total production including third party feed
                    Nickel metal             kt          65.2          69.4               (6)           (8)
                    Nickel in concentrates   kt           0.4           0.5              (20)            -
                    Copper metal             kt          17.7          21.2              (17)          (17)
                    Copper in concentrates   kt          26.3          31.5              (17)           23
                    Cobalt metal             kt           2.6           2.5                4            14
                    Gold                     koz           33            39              (15)           10
                    Silver                   koz          744           853              (13)           32
                    Platinum                 koz           78            98              (20)            4
                    Palladium                koz          153           202              (24)           19
                    Rhodium                  koz            5             6              (17)          (50)
                                                 
Murrin Murrin
                    Total Nickel metal       kt          24.6          25.2               (2)           48
                    Total Cobalt metal       kt           2.0           2.1               (5)           13

Murrin Murrin - total production including third
party feed          Total Nickel metal       kt          30.7          32.8               (6)           31
                    Total Cobalt metal       kt           2.2           2.4               (8)            -

Koniambo            Nickel in ferronickel    kt          12.3           9.5               29            10

Total Nickel department
                    Nickel                   kt          80.7          82.4               (2)           17
                    Copper                   kt          34.6          38.9              (11)           16
                    Cobalt                   kt           2.6           2.8               (7)           10
                    Gold                     koz           25            29              (14)            -
                    Silver                   koz          495           526               (6)           41
                    Platinum                 koz           56            71              (21)           (5)
                    Palladium                koz          102           137              (26)            6
                    Rhodium                  koz            4             5              (20)          (50)
                                                 

Production from own sources – Ferroalloys assets (1)

                                                           Q3         Q4           Q1        Q2          Q3
                                                         2016       2016         2017      2017        2017
Ferrochrome (7)                              kt           344        417          439       397         271
     
PGM (8)              Platinum                koz           14         13           14        15           8
                     Palladium               koz            8          9            9         9           5
                     Rhodium                 koz            3          2            2         3           1
                     Gold                    koz            -          -            -         -           1
                     4E                      koz           25         24           25        27          15

Vanadium Pentoxide                           mlb          5.5        5.5          5.1       4.4         6.1

                                                          YTD         YTD         Change          Change
                                                         2017        2016      YTD 17 vs        Q3 17 vs
                                                                                  YTD 16           Q3 16
                                                                                       %               %
Ferrochrome (7)                              kt         1,107       1,106              -              (21)
      
PGM (8)               Platinum               koz           37          45            (18)             (43)
                      Palladium              koz           23          27            (15)             (38)
                      Rhodium                koz            6           8            (25)             (67)
                      Gold                   koz            1           1              -              n.m.
                      4E                     koz           67          81            (17)             (40)

Vanadium Pentoxide                           mlb         15.6        15.6              -               11

Total production – Custom metallurgical assets (1)

                                                            Q3              Q4            Q1               Q2            Q3
                                                          2016            2016          2017             2017          2017

Copper (Altonorte, Pasar, Horne, CCR)
                      Copper metal           kt          122.5           125.0         128.2            131.3         132.1
                      Copper anode           kt           98.9           158.5         139.7            124.6         139.5

Zinc (Portovesme, San Juan de Nieva, Nordenham, Northfleet) 
                      Zinc metal             kt          199.4           195.5         197.2            198.0         196.6
                      Lead metal             kt           56.4            49.9          53.3             46.5          44.1
                      Silver                 koz         3,270           4,270         3,243            4,222         2,890

Ferroalloys
                      Ferromanganese         kt             30              33            32               40            46
                      Silicon Manganese      kt             23              15            15               11            19

                                                           YTD             YTD         Change          Change
                                                          2017            2016      YTD 17 vs        Q3 17 vs
                                                                                       YTD 16           Q3 16
                                                                                            %               %
Copper (Altonorte, Pasar, Horne, CCR)
                      Copper metal           kt           391.6           364.1             8               8
                      Copper anode           kt           403.8           364.0            11              41

Zinc (Portovesme, San Juan de Nieva, Nordenham, Northfleet) 
                      Zinc metal             kt           591.8           594.3             -              (1)
                      Lead metal             kt           143.9           166.7           (14)            (22)
                      Silver                 koz         10,355          10,575            (2)            (12)

Ferroalloys
                      Ferromanganese         kt             118             103             15             53
                      Silicon Manganese      kt              45              67            (33)           (17)

1   Controlled industrial assets and joint ventures only. Production is on a 100% basis, except as stated.
2   Copper metal includes copper contained in copper concentrates and blister.
3   Cobalt contained in concentrates and hydroxides.
4   The Group’s pro-rata share of Collahuasi production (44%).
5   The Group’s pro-rata share of Antamina production (33.75%).
6   The Group’s pro-rata share of CEZ production (25%).
7   The Group’s attributable 79.5% share of the Glencore-Merafe Chrome Venture.
8   Consolidated 50% of Mototolo and 100% of the Group's PGM recovery plant.

Energy Products
Production from own sources

Coal assets (1)
                                                            Q3            Q4            Q1            Q2             Q3
                                                          2016          2016          2017          2017           2017

Australian coking coal                       mt            1.6           1.7           1.7           1.0            1.8
Australian semi-soft coal                    mt            0.9           1.1           1.0           1.2            1.0
Australian thermal coal (export)             mt           13.7          14.7          12.8          13.4           11.2
Australian thermal coal (domestic)           mt            1.4           1.0           1.6           1.7            1.6
South African thermal coal (export)          mt            4.5           4.3           4.2           4.5            5.4
South African thermal coal (domestic)        mt            3.3           3.1           2.6           2.2            2.7
Prodeco                                      mt            4.7           4.3           4.2           3.8            3.7
Cerrejón (2)                                 mt            3.0           2.8           2.8           2.4            2.5
Total Coal department                        mt           33.1          33.0          30.9          30.2           29.9


                                                           YTD           YTD        Change         Change
                                                          2017          2016     YTD 17 vs       Q3 17 vs
                                                                                    YTD 16          Q3 16
                                                                                         %              %
Australian coking coal                       mt            4.5           3.6            25             13
Australian semi-soft coal                    mt            3.2           3.1             3             11
Australian thermal coal (export)             mt           37.4          37.8            (1)           (18)
Australian thermal coal (domestic)           mt            4.9           4.6             7             14
South African thermal coal (export)          mt           14.1          12.9             9             20
South African thermal coal (domestic)        mt            7.5           9.0           (17)           (18)
Prodeco                                      mt           11.7          13.0           (10)           (21)
Cerrejón (2)                                 mt            7.7           7.9            (3)           (17)
Total Coal department                        mt           91.0          91.9            (1)           (10)

1 Controlled industrial assets and joint ventures only. Production is on a 100% basis except for joint ventures, where the Group’s attributable share of
  production is included.
2 The Group’s pro-rata share of Cerrejón production (33.3%).


Oil assets

                                                            Q3            Q4             Q1            Q2              Q3
                                                          2016          2016           2017          2017            2017

Glencore entitlement interest basis
Equatorial Guinea                             kbbl         821           708            691           642             622
Chad                                          kbbl         855           777            674           633             624
Total Oil department                          kbbl       1,676         1,485          1,365         1,275           1,246
                                                            
Gross basis
Equatorial Guinea                             kbbl       3,959         3,309          3,249         3,048           2,896
Chad                                          kbbl       1,169         1,063            921           866             853
Total Oil department                          kbbl       5,128         4,372          4,170         3,914           3,749
                                                            


                                                           YTD           YTD         Change        Change
                                                          2017          2016      YTD 17 vs      Q3 17 vs
                                                                                     YTD 16         Q3 16
                                                                                          %             %
Glencore entitlement interest basis
Equatorial Guinea                             kbbl        1,955        2,921             (33)          (24)
Chad                                          kbbl        1,931        3,105             (38)          (27)
Total Oil department                          kbbl        3,886        6,026             (36)          (26)
                                                          
Gross basis
Equatorial Guinea                             kbbl        9,193       13,600             (32)          (27)
Chad                                          kbbl        2,640        4,245             (38)          (27)
Total Oil department                          kbbl       11,833       17,845             (34)          (27)
                                                            
Full year 2017 production guidance

                                                         Actual            Actual           Actual            Guidance
                                                             FY                FY              YTD                  FY
                                                           2015              2016             2017                2017
Copper                                 kt                 1,502             1,426              947          1,310 ± 15
Zinc                                   kt                 1,445             1,094              827          1,105 ± 15
Lead                                   kt                   298               295              211             280 ± 5
Nickel                                 kt                    96               115               81             115 ± 4
Ferrochrome                            kt                 1,462             1,523            1,107          1,550 ± 15
Coal                                   mt                   132               125               91             124 ± 3

Changes to production guidance reflect:

-   Copper: down 20kt (2%) to 1,310kt (±15kt) - power interruption at Mopani and associated reduction in sulphuric acid deliveries to Mutanda
-   Zinc: down 25kt (2%) to 1,105kt (±15kt) - mainly lower grades from the Americas
-   Lead: down 5kt (2%) to 280kt (±5kt) - minor operational changes across the portfolio
-   Ferrochrome: down 35kt (2%) to 1,550kt (±15kt) - additional maintenance days
-   Coal: down 8mt (6%) to 124mt (±3mt) - impacts from industrial action in Australia and weather-related disruptions in Colombia

Important notice concerning this document including forward looking statements

This document contains statements that are, or may be deemed to be, “forward looking statements” which are prospective in nature. These forward looking
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By their nature, forward looking statements involve known and unknown risks and uncertainties, many of which are beyond Glencore’s control. Forward
looking statements are not guarantees of future performance and may and often do differ materially from actual results. Important factors that could cause
these uncertainties include, but are not limited to, those discussed in Glencore’s Annual Report 2016.

Neither Glencore nor any of its associates or directors, officers or advisers, provides any representation, assurance or guarantee that the occurrence of the
events expressed or implied in any forward-looking statements in this document will actually occur. You are cautioned not to place undue reliance on these
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that there has been no change in the business or affairs of Glencore since the date of this document or that the information contained herein is correct as at
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No statement in this document is intended as a profit forecast or a profit estimate and no statement in this document should be interpreted to mean that
earnings per Glencore share for the current or future financial years would necessarily match or exceed the historical published earnings per Glencore
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The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this document, “Glencore”, “Glencore
group” and “Group” are used for convenience only where references are made to Glencore plc and its subsidiaries in general. These collective expressions
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Sponsor
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