Commodities Buzz: Glencore Copper output up 15% on year in first half of 2026, Zinc production slides 21%

Mining major Glencore has stated that its own sourced copper production of 397,000 tonnes was 53,100 tonnes (15%) above H1 2025, reflecting various higher contributions across the portfolio, primarily due to increased mining rates and improved grades at African Copper (55,000 tonnes) and higher grades at Antamina (27,700 tonnes), partly offset by the planned closure of the Mount Isa copper mine in July 2025 (20,400 tonnes). The company?s cobalt production of 10,200 tonnes was 8,700 tonnes (46%) below H1 2025, primarily reflecting the DRC government's ongoing cobalt export quota regime, with operating activities requiring careful consideration of quota allocations, whereby prioritisation and focus is given to copper production. Glencore noted that its zinc production of 365,600 tonnes was 99,600 tonnes (21%) lower than H1 2025, primarily reflecting Lady Loretta?s end of mine life in late 2025 (51,000 tonnes) and lower zinc grades at Antamina (39,200 tonnes), in line with its current higher copper/lower zinc grade phasing. The decrease also reflects the disposal of the Kidd mine in Canada on 1 June 2026. The company?s nickel production of 35,800 tonnes was broadly in line with H1 2025.

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