Glencore's copper production for 2025 is down 11%, as Rio Tinto and Glencore merge.

The company reported on Thursday that Glencore's production of copper will decline by 11% between?2025 and?2030, despite higher copper grades at various mines, which boosted output in the second half.

The production for the year was lower than the 850,000 to 875,000 metric-ton forecast.

Markets are awaiting a possible offer by rival Rio Tinto to acquire Glencore, which is expected to be made public on?February 5th.

Copper, a key element for the transition to lower-carbon energy, artificial intelligence, and defence, has reached record highs as traders expect a tightening of supply.

Lower Grades and Tighter Supply

Glencore's copper guidance for this year is between 810,000 and 870,000 tonnes, due in part to lower ore grades at the Chilean mine Collahuasi that it owns jointly with Anglo American.

This range is in line with the December forecast, which had a midpoint at 840,000 tons.

Glencore wants to increase annual copper production to 1.6 millions tons by 2035, using a combination of new and restarted mining operations. If talks with Rio Tinto are successful and the two companies create the largest mining group in the world, valued at more than $200 billion, Glencore's long-term prospects could change.

Glencore produces cobalt in the Democratic Republic of Congo. This is another important mineral for energy transition. It accounts for over?70% of the global mined production.

The company said that it produced 36.100 tons of cobalt in 2018, a 5% decrease from 2024.

In October, the central African nation launched a system for export quotas. Glencore anticipates exporting 22,800?tons of coal this year.

The miner and traders said they expect their?full year marketing earnings before tax and interest to be at the middle of the $2.3 billion-$3.5 billion range.

The 2025 steelmaking coal production increased from 19.9 to 32.5 millions tons.

Glencore will produce 98 million tonnes of thermal coal by 2025. This is down from 99.6 millions tons in 2024. Glencore remains one of the largest producers and exporters in the world. Clara Denina reported; Barbara Lewis edited.

(source: Reuters)