[miningmx.com] – GLENCORE’S industrial capital expenditure ceiling for 2015 is expected to be $6bn, down from $6.5-$6.8bn announced in February, said Reuters citing the Swiss firm’s comments in its first half production report.
In the first six months of its financial year, Glencore posted a 3% fall in copper production. Total copper output using feed from its own sources fell to 730,900 tonnes, said Reuters.
“The net decrease relates mainly to anticipated grade variations at certain assets and planned maintenance, largely offset by growth from African copper,” said Glencore. It
expects its full-year copper output to be between 1.5 million tonnes and 1.55 million tonnes, the newswire said.
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