Glencore's headquarters in Baar, Switzerland. Picture: REUTERS/Arnd Wiegmann
Glencore says it expects full-year 2021 earnings before interest and tax for its marketing unit to exceed the top end of its $2.2bn to $3.2bn long-term guidance, but stuck to its production guidance. The miner and trader reported a 9% drop in coal production year-to-date due to its Prodeco mines in Colombia being suspended and lower domestic production in SA.
Ferrochrome production jumped 65% year on year to 1,071,000 tonnes as SA mines ramped up after a Covid-19 lockdown. CEO Gary Nagle said the improvement in energy markets had helped the company recover from market-driven production cuts in its Australian coal assets in the second half of 2020.Own-sourced nickel production was down 13% year to date to 71,100 tonnes due to planned maintenance at Australian mine Murrin Murrin and operating issues at its Koniambo mine in New Caledonia.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: eNCA - 🏆 49. / 51 Read more »