Glencore has reported it had a solid 4Q16 across the board. Full year production was in line with guidance, reflecting production suspensions in copper, zinc, coal and oil.
For the company’s coal assets, it produced 124.9 million t, 6.6 million t (5%) lower than 2015. This was reported to be mainly a reflection of the deconsolidation and subsequent sale of Optimum Coal, scheduled mine closures in South Africa and weather-related constraints on production in Colombia.
Australian metallurgical coal production finished at 5.3 million t, 0.6 million t lower than 2015, mainly due to geological issues at Oaky Creek earlier in the year.
Glencore produced 62.3 million t of Australian thermal and semi-soft coal, which was 2.4 million t (4%) higher than 2015, mainly as a result of planned increases at Mangoola, Rolleston and Ravensworth North along with improved production at South Blakefield, following geological challenges in 2015.
South African thermal coal production totalled 29.3 million t, declining 21% to 7.7 million t compared to 2015. Glencore reported this be mainly a result to the deconsolidation and subsequent sale of Optimum Coal and some smaller scheduled mine closures.
Prodeco Production was 0.3 million t (2%) less than in 2015, coming in at of 17.3 million t. This was due to being impacted by heavy rainfall during the year.
Cerrejón Glencore’s share of volumes from Cerrejón were 10.7 million t, 0.4 million t (4%) lower than the previous year, mainly due to weather-related production disruptions.
Read the article online at: https://www.worldcoal.com/coal/02022017/glencore-reports-coal-production-for-2016/