Connect with us

Hi, what are you looking for?

Commodities like iron, copper and tin are soaring to new heights, raising hope among analysts that this year's conference may spur funding for new mining ventures/AFP


Mining giant Glencore Xstrata says copper output rises 26%

Mining giant Glencore Xstrata says copper output rises 26%/AFP

Mining giant Glencore Xstrata says copper output rises 26%/AFP

ZURICH, February 11- Mining giant Glencore Xstrata said on Tuesday that its copper production rose by 26 percent in 2013 from output the previous year, reaching 1.5 million tonnes.

Copper is a key measure of the health of the commodities sector, and the Swiss based group said that output growth was driven by mining in the Democratic Republic of Congo, Chile, Peru and Australia.

Zinc production fell by nine percent to 1.39 million tonnes owing to the end of mining at sites in Australia and Canada, but that falling trend was set to halt this year thanks to projects in Australia and Africa, the group said.

Production of lead also fell by 2.0 percent to 315,000 tonnes, while nickel output dropped by 4.0 percent to 98,400 tonnes.

Glencore Xstrata’s gold production was robust, however, increasing by 14 percent to just over one million ounces, fuelled by mines in Kazakhstan and Peru.

The group is also a major player in the energy sector, and saw coal production increase by 4.0 percent to 138 million tonnes thanks to expanding operations in Colombia and Australia.

The group came into being with a mega merger in May 2013 between commodities giant Glencore and mining company Xstrata, both of which were already based in Switzerland.

Glencore Xstrata is due to publish its 2013 results on March 4.

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...