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Key facts: Glencore cuts production target; plans new smelter; reduces jobs
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Glencore has reduced its production target for the upcoming year, raising concerns regarding potential global supply shortages in the copper market.1Glencore will develop a new copper smelter in Antofagasta with Codelco, processing 1.5 million metric tonnes annually. Construction starts in 2030, with operations expected by 2032-2033.2Glencore has announced a reduction of 1,000 jobs as part of a cost-cutting initiative aimed at streamlining operations and improving efficiency.3
- Glencore has reduced its production target for the upcoming year, raising concerns regarding potential global supply shortages in the copper market.1
- Glencore will develop a new copper smelter in Antofagasta with Codelco, processing 1.5 million metric tonnes annually. Construction starts in 2030, with operations expected by 2032-2033.2
- Glencore has announced a reduction of 1,000 jobs as part of a cost-cutting initiative aimed at streamlining operations and improving efficiency.3
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