Glencore – 2025 Full Year Production Report
Press Release
January 29, 2026
Glencore Chief Executive Officer, Gary Nagle:
“Glencore, for the second consecutive year, achieved full year production volumes for our key commodities within guidance ranges, reflecting the ongoing benefits of our recently optimised and simplified operating structures. Notably, H2 2025 copper production of over 500kt was almost 50% above H1, primarily due to higher copper grades and recoveries at KCC, Mutanda, Antapaccay and Antamina. In zinc, H2 volumes were up 39kt (+8% vs H1), reflecting increased contributions from McArthur River, Kidd and Kazzinc, while in coal, energy and steelmaking volumes were higher by 1.4Mt and 1.1Mt respectively.
“At our Capital Markets Day in Q4 2025, we provided updated and expanded guidance on our copper asset portfolio, outlining our pathway, from an already significant copper producer, to become one of the world’s largest producers over the next decade. In support thereof, I am pleased to report that our 2025 Resources and Reserves report (also released today) includes additions to our copper mineral resource base, with notable increases at NewRange, Antapaccay, Coroccohuayco, Lomas Bayas and El Pachón.
“We expect to report FY 2025 Marketing Adjusted EBIT around the mid-point of our recently upgraded (in July 2025) $2.3-3.5 billion p.a. long-term through the cycle guidance range.”
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