Business
Glencore Capital Markets Day 2025
Glencore announced significant progress at its Capital Markets Day, outlining a pathway to produce approximately 1 million tonnes of copper by 2028 and targeting 1.6 million tonnes by 2035, which would position it as a leading global producer. The company expects a 4% annual compound growth rate in copper equivalent production from 2026 to 2029, with copper production itself projected to grow at 9.4% during this period. Key initiatives include the restart of the Alumbrera copper mine, expected to produce around 75,000 tonnes of copper annually, and a streamlined operating structure focused on accountability and performance. Glencore also highlighted its continued strategic role in coal and energy businesses and its marketing segment's strong performance. Disclaimer*
About this update from Glencore Plc
[{"type":"text","content":"\n\n \nGlencore plc\nBaar, Switzerland\n3 December 2025\n \nGlencore Capital Markets Day 2025\n \n· Significant progress on de-risking exceptional portfolio of copper assets with a pathway to produce c. 1 million tonnes by 2028 and target to produce c. 1.6 million by 2035\n· Expected 4% overall annual compound growth rate in copper equivalent production from 2026 level to 2029, with copper production itself expected to grow at 9.4% over this period\n· Restart of Alumbrera copper mine\n· Streamlined operating structure with focus on accountability and ownership to deliver safe and reliable operating performance.\nGlencore will today host its Capital Markets Day at 1.00pm (UK). Webcast details and the presentation slides are available here: 2025 Capital Markets Day\nGlencore CEO Gary Nagle commented:\n\"Since our last Capital Markets Day in 2022, we have made significant progress on de-risking our exceptional portfolio of copper projects. These projects are mostly brownfield and expected to be highly capital efficient. We have a clear pathway for our base copper business to exceed 1 million tonnes of annual production by the end of 2028, with a target to produce c. 1.6 million tonnes by 2035, which would make Glencore one of the largest copper producers in the world. We have already taken key steps on this journey, including the submission of our Argentinian RIGI applications in August and our decision to restart the Alumbrera copper/gold operation in Argentina which we are announcing today.\n\"Our coal and energy businesses continue to play a strategic role in supporting the energy and infrastructure needs of today and tomorrow, through our leading seaborne steelmaking and energy coal assets as well as our rapidly growing LNG, power, gas and carbon marketing businesses.\n\"At the same time, we have optimised and streamlined our industrial operating structures to ensure accountability and ownership to deliver safe and reliable performance.\n\"Our unique marketing business continues to perform very well, and we have tailored our capabilities to better reflect the product requirements of our global customer base. This alignment allows us to leverage our multi-generational industrial assets, our strategic marketing assets and the capabilities of ou...