Glencore's first-quarter thermal coal production up 22% year-on-year, full-year production target unchanged

Glencore's first-quarter thermal coal production up 22% year-on-year, full-year production target unchanged

On April 28, miner Glencore released its quarterly operation report showing that from January to March this year, the company’s thermal coal output was 25.5 million tons, an increase of 22% from 20.9 million tons in the same period last year. The quarter's 23.5 million tonnes was up 9%.
In the first quarter, Glencore Australia's thermal coal output was 14.8 million tons, of which export thermal coal output was 13.4 million tons, a year-on-year increase of 12%; domestic thermal coal output was 1.4 million tons, flat year-on-year.
During the same period, the company's South African thermal coal output was 4.5 million tons, of which the export thermal coal output was 3.4 million tons, a year-on-year decrease of 15%; the domestic thermal coal output was 1.1 million tons, a year-on-year decrease of 35%. The decline in South African thermal coal production was mainly due to the extreme rainfall weather and the limitation of local railway capacity, which forced the company to reduce coal mine capacity in South Africa.
In the first quarter, Glencore's 100% stake in Colombia's Cerrejon coal mine produced 6.2 million tons, a 2.4-fold increase year-on-year. According to the same basis, the output of the Cerrejon coal mine in the first quarter increased by 800,000 tons compared with the same period of the previous year.
From January to March, Glencore's total coal output was 28.5 million tons, an increase of 16% from 24.5 million tons in the same period last year. In 2022, the company's coal production target remains unchanged at 116-126 million tons.