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Glencore lowers full-year production guidance for copper, zinc, cobalt

LONDON (Reuters) – Miner and trader Glencore (OTC:GLNCY) lowered its 2022 production guidance on copper, zinc and cobalt after operational challenges and COVID-related absenteeism in the first quarter drove output for some metals lower.

It however expects its full-year marketing earnings before interest and taxes (EBIT) to exceed the top range of its long-term annual guidance of between $2.2 billion and $3.2 billion.

The London-listed company reported a 14% fall in copper production in the three months to the end of March and a 15% drop in zinc output.

Source : Reuters

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