Glencore coal production down 10%

Glencore has reported coal production for the 12 months ended 31 December 2015.

The company has indicated that coal production was down 10% to 131.5 million t primarily due to curtailed production in response to market conditions and deconsolidation of optimum coal since its August 2015 placement into business rescue proceedings.

Australian metallurgical production came in at 5.9 million t, which was in line with 2014. Australian thermal and semi-soft Production of 59.9 million t was 3.6 million t (6%) below 2014, reflecting that, in the face of weaker prices, production was curtailed.

At Glencores South African operations, thermal production of 37 million t was 9.1 million t (20%) below the prior year, mainly due to optimum being placed into business rescue proceedings, with associated production deconsolidated from August 2015.

The company’s Prodeco operations produced 17.6 million t, which was 1.9 million t (10%) lower than 2014, which reflected a scaling back as railing capacity was constrained by night time rail restrictions, which have now been lifted.

In Cerrejón, Glencore’s share of production was 11.1 million t – in line with the prior year.

Edited from press release by Harleigh Hobbs

Read the article online at: https://www.worldcoal.com/coal/11022016/glencore-coal-production-down-215/