By Ian Walker
Glencore PLC on Friday reported falls in year-to-date production for most commodities and lowered its full year guidance for them.
The FTSE 100-listed commodity mining and trading company said that copper production fell 14%, while production of zinc fell 18%, lead fell 21%, gold fell 15% and silver fell 25% for the first nine months of the year.
It reduced guidance on those commodities compared with that provided for at the second quarter.
The company blamed a number of issues for its performance, including extreme weather in Australia, industrial action at nickel assets in Canada and Norway and supply-chain issues in Kazakhstan due to Russia’s war in Ukraine.
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