A summary of Glencore's 2020 third-quarter production report for the coal sector, released on Friday October 30, where the company maintained its 2020 full-year production guidance except coal, which was adjusted for the extended strike at the Cerrejon mine.
In brief The company's year-to-date (YTD) coal production of 83.5 million tonnes was 20.5 million tonnes or 20% lower than the comparable prior-year period due to the Prodeco mines in Colombia being on care and maintenance for most of 2020, disruptions at the Cerrejon mine - which were initially Covid-related but have lately been due to industrial action - and the reduction in targeted second half-year 2020 volumes across the Australian portfolio amid weak market conditions. Australian...