Glencore Quarterly Copper-Mine Output Drops 9% as Grades Decline
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Glencore Plc, the mining and commodities company led by billionaire Ivan Glasenberg, reported a 9 percent decline in copper production after ore grades fell and a Chilean mine shut for maintenance.
Output of copper from mines in Africa, Australia and South America was 350,700 metric tons in the first quarter, the Baar, Switzerland-based company said Tuesday in a statement. That compared with 385,600 tons a year earlier.