Mining MX reported that Glencore posted solid third quarter numbers today in which copper production of 1.06 million tonnes was 12% higher than at the same period last year owing to the restart of Katanga’s processing operations in the Democratic Republic of Congo. Cobalt output jumped 8,700 tonnes to 28,500 tonnes.
Goldman Sachs described the quarterly performance as neutral. “Production was broadly inline with our estimates at the big operations – copper / zinc and coal. Guidance across all divisions was reiterated / tightened apart from oil where it was cut on account of the Mangara field in Chad being offline for a month,” it said.
