Glencore expects its full-year 2025 marketing adjusted earnings before interest and tax to land near the midpoint of its upgraded guidance. This comes as a strong rebound in copper production during the second half of 2025 offset earlier output declines. The mining and commodities giant saw a 48% surge in copper production in H2.

Improved operational performance across several copper assets fueled the production increase. Lower ore feed at Collahuasi and reduced output at Antamina and Antapaccay impacted overall volumes. However, increased grades and recoveries at KCC, Mutanda, and other sites boosted second-half production. Glencore's zinc production also rose by 7%.

Glencore's full-year 2025 copper production totaled 851,600 tonnes, down 11% from 2024. The company's cobalt production dipped 5% due to export restrictions in the Democratic Republic of Congo. Steelmaking coal production rose substantially, while energy coal output saw a slight decrease. Ferrochrome production fell sharply.

Looking ahead, Glencore reiterated its longer-term production ambitions for copper. The company's 2025 resources and reserves report revealed additions to its copper mineral resource base. Increased production and strategic planning are central to Glencore's future, as they aim to become a leading copper producer.