Glencore copper, coal output rises but zinc falls


Glencore Xstrata (GLCNF, GLNCY) reports mixed Q1 production results, with higher copper and coal output but lower zinc production as some of its mines reached the end of their operating lives.

Copper production rose 24% Y/Y to 382K metric tons, due to higher output from its Congolese mines and improved performance from certain mines in Latin America and Australia.

Coal production rose 4% to 34.1M tons, helped by higher output from the Colombian Cerrejon mine, which last year suffered from a lengthy strike that hurt output.

Zinc output fell 18% to 306K tons, due to the closure of its North American Perseverance and Brunswick mines.

Also approved construction of the 7M ton/year Askaf North iron ore project in Mauritania, marking Glencore's first attempt to develop its own iron ore production.

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