- Coal production guidance at 105-115 mnt
- Thermal coal output up 2.5% y-o-y
- Metallurgical coal production falls 29% y-o-y
Glencore, a global mining giant experienced a 1.1% y-o-y declined in coal production to 26.6 million tonnes (mnt) in the first quarter of CY24, marking a 10.4% decreased from the previous quarter.
Within this, Glencore’s thermal coal production reached 24.4 million tonnes (mnt) from Jan-Mar’24, showing a 2.5% up compared to the same period last year but a 6.5% declined q-o-q.
Thermal coal production from Australia stood at 15.1 mnt. Of this, 13.1 million tonnes (mnt) were designated for exports, representing a 1.6% rise y-o-y but a 7.7% declined q-o-q. Meanwhile, domestic supply from Australia increased to 2 mnt, up by 33% from the previous year and 11.1% from the preceding quarter.
South Africa contributed 4 mnt to Glencore’s output during the period, with exports reaching 2.8 mnt, down by 12.5% from the previous year, while domestic supply surged by 50% to 1.2 mnt.
Glencore’s Cerrejon mine in Colombia produced 5.3 mnt of thermal coal, experiencing a 1.9% decreased y-o-y and a 5.4% declined from the previous quarter.
