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Released February 02, 2023 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Despite a steep drop in copper production in 2022, Glencore plc (Baar, Switzerland) said this week it would keep its 2023 production outlook unchanged from its October estimate at about 1.04 million tons. That's still below 2022's output of 1.06 million tons, but the mining giant believes the global transition to cleaner energy sources will continue to drive demand for copper and other materials necessary for battery-storage systems and other components. Industrial Info is tracking more than $14.4 billion worth of active projects worldwide from Glencore, including more than $4.7 billion worth in the U.S. and Canada.
Click on the image at right for a graph detailing active projects worldwide from Glencore, by project type.
Glencore's 2022 copper output was 12% below that of 2021, largely due to "geotechnical constraints" at its 3 million-ton-per-year Katanga Mine in the Democratic Republic of Congo (DRC), and the sale of its Ernest Henry Mine in Cloncurry, Queensland, to Australia's Evolution Mining Limited (Sydney, New South Wales) at the end of 2021. Subscribers to Industrial Info's Global Market Intelligence (GMI) Plant Database can read detailed profiles of the Katanga and Ernest Henry mines.
Glencore also announced in December it would pay the DRC $180 million to settle a series of corruption claims spanning 2007 to 2018, including $27.5 million in bribes the company allegedly paid out within the DRC between 2010 and 2013. Investigations were led by the U.S. Department of Justice and the DRC's National Financial Intelligence Unit and Ministry of Justice.
More recently, Glencore suspended operations at its Antapaccay Copper Mine in Peru on January 20, after protesters attacked the premises three times within the previous month. The most recent outbreak at the mine caused a fire in a nearby housing area, although no fatalities were reported. Political unrest has roiled Peru's mining and energy industries in recent weeks, as protesters demand the resignation of the new president and call for new general elections. Subscribers can learn more from a detailed plant profile and Industrial Info's January 25, 2023, article - Months-long Protests in Peru Impact Mining, Energy Operations.
Glencore's zinc production for 2022 dropped about 16% from 2021, attributed to mine closures and sales, while gold production dropped 18% and silver production dropped 25%.
Other commodities, however, fared much better: Glencore reported a 40% growth in global cobalt production to 43,800 tons, fueled by the restarting of its Mutanda Mine in Katanga, DRC. The company also saw global nickel production grow 5% to 107,500 tons and global coal production grow 6% to 110 million tons. The latter was attributed to production from its Cerrejon Coal Mine in Albania, Colombia, which Glencore now fully owns following a stake sale last year by Anglo American plc (London, England). Subscribers can read detailed plant profiles for the Mutanda and Cerrejon mines.
Despite this array of technical and political constraints, Glencore executives expressed confidence in their October 2022 revision of their 2023 outlook, which remained unchanged when the company announced it in detail this week. In addition to the slight dip in copper production from 2022, cobalt production is expected to be down 13.2% to 38,000 tons in 2023, while coal is expected to remain unchanged at 110,000 tons. Zinc and nickel are expected to see slight gains of 1.2% and 3.6% to 950,000 and 112,000 tons, respectively.
"Overall, 2022 production volumes were in line with our revised guidance from October 2022, with final-quarter [2022] sequential production increases delivered across most of our key commodities, including copper, zinc, nickel and coal," said Gary Nagle, the chief executive officer of Glencore, in a press release.
In the U.S., Glencore is looking into the reclamation and remediation of a Superfund site at its shuttered aluminum smelter in Columbia Falls, Montana, following the demolition and site cleanup that ran from 2015 to 2019. Glencore acquired the then-troubled plant in 1999, halted activities in 2009, and endured harsh criticism from elected officials when it decided to close the facility permanently in 2015. The U.S. Environmental Protection Agency declared it a Superfund site the following year. Subscribers can learn more from a detailed project report.
Glencore's interest in U.S.-based projects goes beyond ownership. Last year, it signed a long-term offtake agreement for all products from United States Strategic Metals LLC (St. Louis, Missouri), formerly known as Missouri Cobalt LLC, which is proposing a redevelopment of its Madison Mine in Fredericktown, Missouri. If the redevelopment is approved, the Madison Mine, which closed in 1960, would produce 5 million pounds per year of cobalt, 6 million pounds per year of nickel, and 22 million pounds per year of copper concentrate over a 15-year mine life. Subscribers can learn more from a detailed project report.
The bulk of Glencore's active North American projects are in Canada, which is home to one of its largest projects worldwide: an underground nickel and copper mine in Onaping, Ontario. Developed in response to declining production at Glencore's Fraser and Nickel Rim mines in Ontario, the Onaping facility is expected to produce 1.2 million tons per year of ores, which will be shipped to the company's Strathcona Mill to produce 20,000 tons per year of nickel and 9,000 tons per year of copper. Subscribers can read more in Industrial Info's project report.
Viterra Incorporated, a Canadian subsidiary of Glencore, markets and handles grains, oilseeds, cotton and other agricultural products for global distribution. The rising demand for canola oil, especially in developing countries, led the company to approve a canola-crushing plant in Regina, Saskatchewan, which currently is expected to begin construction this spring or summer. Subscribers can learn more from a detailed project report.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for active projects worldwide from Glencore, and click here for a full list of reports specifically for projects in the U.S. and Canada.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing active projects worldwide from Glencore, by project type.Glencore's 2022 copper output was 12% below that of 2021, largely due to "geotechnical constraints" at its 3 million-ton-per-year Katanga Mine in the Democratic Republic of Congo (DRC), and the sale of its Ernest Henry Mine in Cloncurry, Queensland, to Australia's Evolution Mining Limited (Sydney, New South Wales) at the end of 2021. Subscribers to Industrial Info's Global Market Intelligence (GMI) Plant Database can read detailed profiles of the Katanga and Ernest Henry mines.
Glencore also announced in December it would pay the DRC $180 million to settle a series of corruption claims spanning 2007 to 2018, including $27.5 million in bribes the company allegedly paid out within the DRC between 2010 and 2013. Investigations were led by the U.S. Department of Justice and the DRC's National Financial Intelligence Unit and Ministry of Justice.
More recently, Glencore suspended operations at its Antapaccay Copper Mine in Peru on January 20, after protesters attacked the premises three times within the previous month. The most recent outbreak at the mine caused a fire in a nearby housing area, although no fatalities were reported. Political unrest has roiled Peru's mining and energy industries in recent weeks, as protesters demand the resignation of the new president and call for new general elections. Subscribers can learn more from a detailed plant profile and Industrial Info's January 25, 2023, article - Months-long Protests in Peru Impact Mining, Energy Operations.
Glencore's zinc production for 2022 dropped about 16% from 2021, attributed to mine closures and sales, while gold production dropped 18% and silver production dropped 25%.
Other commodities, however, fared much better: Glencore reported a 40% growth in global cobalt production to 43,800 tons, fueled by the restarting of its Mutanda Mine in Katanga, DRC. The company also saw global nickel production grow 5% to 107,500 tons and global coal production grow 6% to 110 million tons. The latter was attributed to production from its Cerrejon Coal Mine in Albania, Colombia, which Glencore now fully owns following a stake sale last year by Anglo American plc (London, England). Subscribers can read detailed plant profiles for the Mutanda and Cerrejon mines.
Despite this array of technical and political constraints, Glencore executives expressed confidence in their October 2022 revision of their 2023 outlook, which remained unchanged when the company announced it in detail this week. In addition to the slight dip in copper production from 2022, cobalt production is expected to be down 13.2% to 38,000 tons in 2023, while coal is expected to remain unchanged at 110,000 tons. Zinc and nickel are expected to see slight gains of 1.2% and 3.6% to 950,000 and 112,000 tons, respectively.
"Overall, 2022 production volumes were in line with our revised guidance from October 2022, with final-quarter [2022] sequential production increases delivered across most of our key commodities, including copper, zinc, nickel and coal," said Gary Nagle, the chief executive officer of Glencore, in a press release.
In the U.S., Glencore is looking into the reclamation and remediation of a Superfund site at its shuttered aluminum smelter in Columbia Falls, Montana, following the demolition and site cleanup that ran from 2015 to 2019. Glencore acquired the then-troubled plant in 1999, halted activities in 2009, and endured harsh criticism from elected officials when it decided to close the facility permanently in 2015. The U.S. Environmental Protection Agency declared it a Superfund site the following year. Subscribers can learn more from a detailed project report.
Glencore's interest in U.S.-based projects goes beyond ownership. Last year, it signed a long-term offtake agreement for all products from United States Strategic Metals LLC (St. Louis, Missouri), formerly known as Missouri Cobalt LLC, which is proposing a redevelopment of its Madison Mine in Fredericktown, Missouri. If the redevelopment is approved, the Madison Mine, which closed in 1960, would produce 5 million pounds per year of cobalt, 6 million pounds per year of nickel, and 22 million pounds per year of copper concentrate over a 15-year mine life. Subscribers can learn more from a detailed project report.
The bulk of Glencore's active North American projects are in Canada, which is home to one of its largest projects worldwide: an underground nickel and copper mine in Onaping, Ontario. Developed in response to declining production at Glencore's Fraser and Nickel Rim mines in Ontario, the Onaping facility is expected to produce 1.2 million tons per year of ores, which will be shipped to the company's Strathcona Mill to produce 20,000 tons per year of nickel and 9,000 tons per year of copper. Subscribers can read more in Industrial Info's project report.
Viterra Incorporated, a Canadian subsidiary of Glencore, markets and handles grains, oilseeds, cotton and other agricultural products for global distribution. The rising demand for canola oil, especially in developing countries, led the company to approve a canola-crushing plant in Regina, Saskatchewan, which currently is expected to begin construction this spring or summer. Subscribers can learn more from a detailed project report.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for active projects worldwide from Glencore, and click here for a full list of reports specifically for projects in the U.S. and Canada.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
