Glencore’s coal production in CY’23 ( January-December 2023) was recorded at 113.6 million tonnes (mnt), up 3% as against 110 mnt recorded in CY’22 ( January 2022- December 2022).
However, total coal production in the fourth quarter of this year (Q4CY’23) was recorded at 29.7 mnt, stable compared to 29.7 mnt in Q3CY’23. Moreover, coal production rose 6% compared to 28.1 mnt in Q4’CY22.
Glencore’s thermal coal production totaled 102 mnt in 2023, up 4.8% y-o-y. Thermal coal production from Australia contributed to 62.2 mnt in CY’23. Of this, 55.2 mnt were produced for exports, a 3% rise, while domestic supply fell 10% to 7 mnt, the report showed.
South African coal production amounted to 17.8 mnt, with exports at 13.7 mnt, an 8% increase from the previous year, while domestic supply rose by 11% to 4.1 mnt. Capacity constraints in South Africa’s rail network have hampered coal output.
Glencore’s fully-owned Cerrejon mine in Colombia produced 22 mnt of thermal coal, a 12% increase from the preceding year.
Coking coal production declined by 8.7% to 11.6 mnt, with coking coal output falling by 14% to 7.5 mnt, while semi-soft coking coal output increased by 2% to 4.1 mnt.
The company’s overall coal production in Q4CY’23 totaled 29.7 mnt, a 5.7% increase from the previous year and unchanged from the previous quarter. This included 26.1 mnt of thermal coal and 3.6 mnt of metallurgical coal.
Glencore has maintained its 2024 coal production target unchanged at 105-115 mnt.