Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Anglo-Swiss miner Glencore expects to produce 1.19-1.25mn mt of copper in 2021 excluding production from its Mopani mine, which is to be divested soon. It also retained the rest of its production outlook from December.


The miner produced 1.25mn mt of copper in the full year 2020, down by 8pc from 1.37mn mt in 2019, attributed largely to its Mutanda mine in the Democratic Republic of Congo being on care and maintenance. However, the company ramped up output at its Katanga mine. In Chile, production increased by 11pc to 276,800mt at the Collahuasi mine, which Glencore co-operates with Anglo American. 


Glencore’s zinc output rose by 9pc in 2020 to 1.17mn mt over 1.07mn mt in 2019 on increased production from Antamina in Peru as well as Mt Isa in Australia. Lead production, however, declined by 7pc to 259,400mt in 2020 from 280,000mt in 2019. 


In 2020, the company’s nickel production declined by 9pc or 10,400mt to 110,200mt as the COVID-19 pandemic impacted operations at its Koniambo mine in New Caledonia and recovery grades declined at its Sudbury mine in Canada.

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