Business
Half-Year Production Report 2024
Half-Year Production Report 2024.
About this update from Glencore Plc
[{"type":"text","content":"\n\nNEWS RELEASE\nBaar, 30 July 2024\nHalf-Year Production Report 2024\n \nGlencore Chief Executive Officer, Gary Nagle:\n\"Across the portfolio, our full-year 2024 production guidance has been maintained and we have added additional steelmaking coal volumes in H2 2024, following successful closing of the EVR acquisition on 11 July 2024. As anticipated, 2024 is expected to be a year of two halves, whereby the tracking of our year-to-date production versus guidance is expected to be caught up during the second half of the year.\n\"Key anticipated H2 over H1 higher production levels include African Copper: +c.30kt (recovery from H1 mill outage, access to higher grade ores and higher throughput rates at Mutanda), Antapaccay: +c.8kt (recovery from H1 geotechnical event), Kazzinc: +c.60kt (continued ramp-up at Zhairem) and Murrin Murrin: +c.3kt (reflecting the timing of its annual shutdown in April). We have updated 2024 steelmaking coal production guidance to 19Mt-21Mt, via inclusion of 12Mt of expected EVR volumes in H2. In our energy coal business, the expected H2/H1 uplift is mainly from our Australian assets, reflecting longwall changes, improved equipment availability and reduced strip ratios.\n\"As announced earlier this month, post the acquisition of EVR, we are now in the process of consulting with shareholders to assess their views regarding the potential demerger of our coal and carbon steel materials business. We expect to be able to announce the outcome of such engagement and the decision of the Board regarding the potential demerger alongside our interim results next week.\"\n \nProduction from own sources - Total1\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nH1 2024\n\n\nH1 2023\n\n\nChange %\n\n\n\n\nCopper\n\n\n kt\n\n\n 462.6\n\n\n 488.0\n\n\n (5)\n\n\n\n\nCobalt\n\n\n kt\n\n\n 15.9\n\n\n 21.7\n\n\n (27)\n\n\n\n\nZinc\n\n\n kt\n\n\n 417.2\n\n\n 434...