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LONDON (Reuters) – Glencore posted a 8 percent increase in copper output in the first nine months of the year thanks to strong production from its African operations and said its trading arm performed in line with its expectations.
The miner and commodity trader has the biggest exposure to copper among the diversified miners.
The London-listed company, which makes almost half of its profit from the red metal, said total copper output from its own sources rose 1,148,600 tonnes in the first nine months of the year, following the completion of an expansion project at its Mutanda mine in the Democratic Republic of Congo.
“Marketing continues to perform in line with our plans,” the company said about its lucrative trading division.
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