Glencore Confirms Profitability Targets for 2023 and Production Details

2023-10-30 08:03:56

Zurich (awp) – Raw materials extraction and trading giant Glencore confirmed on Monday its profitability target for 2023. The Zougois group, listed on the London Stock Exchange, also detailed its production targets.

Glencore wants to generate an adjusted operating profit (Ebit) of $3.5 billion to $4.0 billion (3.2 billion to 3.6 billion Swiss francs) in 2023 for its trading activities alone. The Baar multinational thus plans to still exceed this year the objective of 2.2 to 3.2 billion per year that it has set for itself in the long term, it detailed Monday in a press release.

In terms of production, Glencore expects a drop of 9% in nickel extraction and 8% in that of ferrochrome. The production of copper, cobalt, zinc and coal has, however, been confirmed.

Over the first nine months of the year, the largest drop in production was recorded for ferrochrome (-21%), silver (-19%) and nickel (-16%).


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