Diversified miner Glencore has lowered its full-year production guidance for copper to 1.46-million tonnes, compared with the previously guided 1.54-million tonnes. The group, led by CEO Ivan Glasenberg, on Tuesday reported that its own sourced copper production for the first quarter of this year had been 7% lower year-on-year, at 24 700 t, as a result of lower integrated metal production in Australia owing to severe flooding in Queensland; the impact of safety-related stoppages and smelter outages at the Mopani mine, in Zambia; opencut depletion at the Alumbrera mine, in Argentina; and the sale of the Punitaqui mine, in Chile, in the second half of 2018.
