Mining major Glencore has noted that its own sourced copper production of 851,600 tonnes was 100,000 tonnes (11%) below 2024, primarily due to lower head grades and recoveries associated with mine sequencing and resultant ore feedstock to the plants, contributing to the reductions at Collahuasi (68,100 tonnes), Antamina (14,600 tonnes) and Antapaccay (9,900 tonnes). Copper production from the Mount Isa complex (recorded as part of the Zinc department) reduced by 13,300 tonnes reflecting closure of the MICO mine in mid-2025. However, its H2 2025 own sourced copper production was 163,800 tonnes (48%) higher than H1 2025, mainly reflecting the expected grade-related uplifts at KCC (62,300 tonnes half-on-half uplift), Antamina (19,100 tonnes) and Antapaccay (40,500 tonnes).
Glencore’s Chief Executive Officer, Gary Nagle has stated that year 2025 was marked by a strong operational performance, continued portfolio optimisation and clear momentum for our copper-led growth strategy. From an already significant copper producer, to become one of the world’s largest producers over the next decade. He noted that we expect to be producing over 1 million tonnes annualised by the end of 2028, with Glencore now targeting c.1.6 million tonnes of copper production by 2035, supported by our enviable portfolio of highly capital-efficient copper growth options.
In other metals, the company’s own sourced overall zinc production of 969,400 tonnes was 64,400 tonnes (7%) higher than 2024, mainly reflecting higher zinc grades at Antamina. Gold output fell 18% to 604000 ounces while Silver production rose 6% to 20425000 ounces.