Glencore said it was on track to deliver earnings at the top half of guidance on the back of rising commodities prices.
The company said it expected earnings before interest and tax to be in a range of $2.2bn – $3.2bn this year as it held production targets.
Coal production fell 23% to 24.5m metric tons in the period, reflecting care and maintenance at the Prodeco operation in Colombia and market-related production cuts in Australia.
In its metals operations, copper output rose 3%, cobalt was up 11%, zinc fell 4%, lead decreased 10%, nickel was 11% lower, and ferrochrome rose 3%.
Gold production rose 6% and silver was flat. Oil output plunged 41% to 1.07m barrels reflecting the impact of the Covid pandemic on demand.
