FILE PHOTO: IOL

JOHANNESBURG - Multinational commodity trading and mining company Glencore said on Tuesday own sourced copper production rose eight percent to 696,200 tonnes in the first half of 2018 while cobalt output was up 31 percent to 16,700 tonnes, in each case reflecting the restart and ramp-up of its DRC subsidiary Katanga.

Glencore said own source copper sales during the period were some 32,000 tonnes lower due to timing of shipments.

"Adjusting for the African zinc assets sold to Trevali Mining in August 2017, own sourced zinc production of 498,200 tonnes was in line with H1 2017," it said.

Own sourced nickel production of 62,200 tonnes was 11,000 tonnes or 21 percent higher than the first half of 2017, while attributable ferrochrome production of 818,000 tonnes was in line with H1 2017.

Coal production of 62 million tonnes was also in line with last year, reflecting certain offsetting factors.

"Cyclone Debbie in Australia disrupted the base period (and) the current period includes production from the recently acquired Hunter Valley Operations JV from May 2018," the company said.

Entitlement interest oil production of 2.3 million barrels was 13 percent below the first six months of 2017, mainly reflecting expected declines in the liquids phase of the Equatorial Guinea offshore fields.

Glencore said the Chad drilling campaign that started mid-2017 delivered increased production of nine percent over the second half of last year.

- African News Agency (ANA)