Glencore reports production gains, revises marketing guidance upward

Glencore reported a 5% year-on-year copper equivalent production uplift for H1 2025, driven by integration of EVR's steelmaking coal volumes. Despite a 26% decrease in own-sourced copper, cobalt and zinc production increased by 19% and 12%, respectively.

The company identified £1bn in cost savings opportunities by end-2026. Following the Viterra sale, Glencore revised its long-term marketing adjusted EBIT guidance to $2.3-3.5bn annually, up from the previous $2.2-3.2bn.