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Global mining group Glencore reports 12% copper production decline in 2022

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(Kitco News) - Glencore announced today that its own sourced copper production in 2022 of 1,058,100 tonnes was 12% lower than 2021, due to the basis change arising from the sale of Ernest Henry in January 2022, the ongoing geotechnical constraints at Katanga, Collahuasi planned mining sequence changes and a lower contribution from Mount Isa.

The company's own sourced cobalt production in 2022 of 43,800 tonnes was 40% higher than 2021 following Mutanda's restart in Q4 2021.

Own sourced zinc production of 938,500 tonnes was 16% lower than 2021, reflecting the disposal / cessation of South America operations, closure of Matagami and lower volumes from Mount Isa, as Lady Loretta approaches end of mine life.

Own sourced nickel production of 107,500 tonnes was 5% higher than 2021, reflecting Murrin Murrin's scheduled major maintenance shut in the prior year and Koniambo running two production lines for the majority of 2022, partially offset by lower production at INO due to strike action in Canada and Norway.

Attributable ferrochrome production of 1,488,000 tonnes was in line with 2021. Coal production of 110.0 million tonnes was 6% higher than 2021, reflecting higher attributable production from Cerrejón.

The company also reported 2022 own sourced gold production of 661 koz (2021: 809 koz), and own sourced silver production of 23,750 koz (2021: 31,519 koz).

"Overall, 2022 production volumes were in line with our revised guidance from October 2022, with final quarter sequential production increases delivered across most of our key commodities, including copper, zinc, nickel and coal," the company said in a press release.

Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities. Glencore companies employ around 135,000 people, including contractors.

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