Glencore Reports Lower Copper Production in First Nine Months Amid Operational Challenges

Global mining and commodities giant Glencore Plc reported a decline in its copper production for the first nine months of 2025, citing operational challenges and lower grades at some of its key mines. The drop comes at a time when global copper demand remains strong due to the ongoing clean energy transition.

According to the company’s latest production update released on Wednesday, Glencore produced 735,600 tonnes of copper from January to September — down 5% year-on-year compared to 774,700 tonnes in the same period last year.

The company attributed the fall primarily to lower output at its South American operations, including the Antapaccay mine in Peru and the Collahuasi joint venture in Chile, where declining ore grades and maintenance shutdowns affected throughput.

“Operational performance across several assets was impacted by scheduled maintenance and lower grades, though overall guidance for the full year remains unchanged,” Glencore said in a statement.

Despite the production dip, the company reaffirmed its 2025 full-year copper output guidance in the range of 1.02–1.08 million tonnes, suggesting a possible recovery in the final quarter as maintenance work concludes.

Other Metal Updates

• Cobalt output fell 6% year-on-year to 28,900 tonnes, mainly due to lower by-product recovery at African operations.

• Zinc production remained broadly stable at 670,000 tonnes, while nickel output rose slightly by 2% to 79,000 tonnes.

• Coal production also saw a marginal increase amid higher demand from Asian markets.

Industry analysts note that Glencore’s production decline comes as copper prices remain near record highs, hovering above $10,000 per tonne, supported by strong demand from electric vehicle manufacturers and renewable energy projects.

“Glencore’s reduced output highlights the broader supply-side pressures facing the global copper market,” said Daniel Hines, commodities analyst at ANZ. “With new mines taking years to develop, supply constraints may continue to support elevated copper prices.”

Glencore, headquartered in Baar, Switzerland, is one of the world’s leading producers and traders of copper, nickel, coal, and other key commodities. The company’s next quarterly update is expected to provide insights into recovery trends and cost performance amid volatile commodity markets.