Glencore records production downturn in first half of 2018

Mount Isa Mines copper production was down in first half of 2018 mainly due to the smelter rebrick.
Mount Isa Mines copper production was down in first half of 2018 mainly due to the smelter rebrick.

Glencore has revealed year-on-year reductions in production at the company’s Australian operations.

In its 2018 Half Year report the company’s copper production across the Mount Isa, Ernest Henry, Cobar and Townsville operations dropped from 91,000 tonnes in first half 2017 to 62,000t in 2018, a 32 per cent drop.

However, copper in concentrates was 16 per cent higher at 29,500 tonnes.

Glencore previously saw a 23 per cent drop to 47,800t in its second quarter report published in May, which it blamed on a four week downtime caused by the smelter re-brick at Mount Isa.

The company’s zinc output from its Mount Isa and McArthur River operations went down from 217,600t to 214,600t (down 1pc) while lead in concentrates went down from 78,900t to 64,300t (down 19 pc) and silver in concentrates went down from 3743 koz to 2341 koz (down 37pc).

Glencore said zinc production was lower due to “expected changes in mining supply” but with Lady Loretta back up were expected to improve in the second half of the year.