Amid flooding disruption and severe weather conditions in Australia, mining giant Glencore, has lowered its production target for coal to 110 mnt for 2022, down by 9% from its previous forecast in July. However, it will remain higher by 7% y-o-y. During Jan-Sep’22, production were at 81.9 mnt, up by 7% y-o-y. Glencore’s profit soared over $12 bn during H12022 due to record-high oil and coal prices since Russia-Ukraine war.
Leave a Reply