(Updates with more production details)
LONDON, April 29 (Reuters) - Glencore said on
Thursday its copper production rose by 3% in the first quarter
on higher output at its South American operations, while zinc,
lead and nickel output fell.
The London-listed company stuck to its production targets
for 2021, after trimming coal guidance last year. It expects its
full-year marketing earnings before interest and taxes (EBIT) to
be between $2.2 billion and $3.2 billion, the top range of its
annual guidance.
Its copper production stood at 301,200 tonnes in the first
quarter, but zinc fell 13,000 tonnes year-on-year to 282,600
tonnes and nickel was down 11% at 25,200 tonnes.
Production of battery material cobalt rose 11% in the same
period.
Its quarterly coal production fell 23% to 24.5 tonnes,
partly because of market-related cuts in Australia that started
in the second half of 2020.
Oil output of 1.1 million barrels of oil equivalent (boe)
fell 41% year on year, after its Chad oil fields were placed on
care and maintenance in April 2020.
(Reporting by Clara Denina; Editing by Edmund Blair and Barbara
Lewis)
Glencore (GLEN)
