[miningmx.com] – GLENCORE posted a 9% quarter-on-quarter decline in copper production to 350,700 tonnes, a performance Bernstein analyst, Paul Gait, was quoted by Reuters as saying was “disappointing”.
The fall in copper production was due to lower grades at Glencore’s Alumbrera mine in Argentina and the Antamina mine in Peru, and to a maintenance shutdown at Collahuasi, in Chile, said Reuters citing Glencore’s first quarter production results.
Glencore has a bigger exposure to base metals than iron ore compared with its large rivals. The company has a large commodity trading division, in addition to its mining and oil assets, said Reuters.
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