Glencore PLC has revised its 2022 production forecasts, cutting copper output by 40,000 tons and zinc output by 100,000 tons due to geotechnical issues and labor shortages. Despite these setbacks, the company expects trading profits to exceed the top end of its guidance, bolstered by a strong marketing division. Additionally, Glencore has increased its output guidance for nickel and ferrochrome and reported a 16% rise in thermal coal production, reflecting a strategic pivot amidst ongoing market volatility.
“Glencore PLC · is a · stock · GLNCY”
“Glencore PLC · currently sporting a · Zacks Rank · #1 (Strong Buy)”
“Glencore PLC · is a member of · Mining - Miscellaneous industry · 49 individual companies”
“Glencore · marketed · 8% of global nickel production · 2021”
“Glencore · produced · 102,300 metric tons of nickel · from owned sources in 2021”
“Glencore · sold · 202,000 metric tons of nickel · in 2021”
“Glencore · stock price has gained · percentage · 16%”
“Glencore · produced · metric tons of nickel from owned sources · 102,300”
“Glencore · sold · metric tons of nickel · 202,000”
“Glencore · guides production for 2022 · nickel production · 110,000 to 120,000 metric tons”
“Glencore Plc · support for its climate change strategy · shareholder support · 94%”
“Glencore Plc · promised to run down coal mines · over the next three decades · true”