29 April 2021 | 07:57am
StockMarketWire.com - Mining giant Glencore reported first-quarter production was broadly in line with its expectations as coal production fell and copper production increased.
The company also forecast full-year marketing earnings within the top half of guidance. [W]e expect full year marketing EBIT to be within the top half of our long-term $2.2-3.2 billion p.a. guidance range, the company said.
Coal production fell 23% to 24.5 million tonnes and ferrochrome production of was 3% up on Q1 2020. Coal production was down 7.4 million tonnes, reflecting Prodeco s care and maintenance status and the market-related production cuts in Australia, actioned in H2 2020, the company said.
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