Business
Glencore copper production drops 11%, cobalt by third – MINING.COM – MINING.com
Suspended Mutanda copper and cobalt mine in Congo slashes Swiss miner and commodities trader’s first half production.
Glencore Altonore copper casting wheel, Chile (Credit: Glencore)
Glencore Plc (LON: GLEN) said trading profit will be at the top end of its target this year but posted lower production figures for its first half.
The company had nearly $1 billion in earnings before interest and taxes in oil trading in the first six months of 2020, similar to what it made in the full year 2019, Bloomberg reported last week.
In March and April, as oil prices plunged, traders were able to buy and store huge amo…
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