Glencore’s 2018 copper output to rise nearly 1.5-million tonnes
On Thursday, Glencore said copper output in 2018 should rise to nearly 1.5-million tonnes as its Katanga mine in the Democratic Republic of Congo (DRC) ramps up to add roughly 150,000 tonnes, as well as 11,600 tonnes of cobalt. During the commodities crash in 2015, Glencore reduced output of commodities including zinc and copper and shut its Katanga operation in the DRC for an upgrade. Copper output in 2017 fell by 8% to just more than 1.3-million tonnes, while cobalt, a market Glencore dominates and which has soared in response to expected demand for battery minerals, slipped to 27,400 tonnes. Cobalt is a by-product of copper and Glencore’s output in 2018 should reach 39,000 tonnes as the Katanga mine increases output.