Glencore has announced its plans to reduce this year’s production by 15 million tonnes to align coal output with existing customer demand.
The latest announcement follows the company’s recent closure of coal production in Australia.
Go deeper with GlobalData
Glencore intends to reduce output at various sites with initiatives that include underground roster changes, scaling back several open pit operations and revising its product portfolio.
The plans aim to tailor volumes and qualities to better match the current market demand.
Glencore will also defer certain projects, in addition to the direct operational changes to ensure that all elements of the company are optimised.
See Also:
Glencore said it will continue to review all of its coal operations in the prevailing economic climate, and that regulatory approvals for projects are subject to final investment approval.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataStreamlining is expected to result in up to 120 job losses across all of the company’s coal mines in Australia.
In late December, Glencore temporary shutdown some of its mines due to over-supply and weak prices worldwide.
During that period, staff was affected and those with insufficient holidays were forced to bring leave forward.
Global diversified natural resource company Glencore’s operations comprise more than 150 mining and metallurgical sites, oil production assets and agricultural facilities.
Image: Glencore’s Bulga Coal Complex in Australia. Photo: courtesy of Glencore.
