Glencore reported a 6% decline in full-year profit despite record-high copper prices, announcing a $2 billion shareholder return to offset weaker coal earnings. The mining giant posted adjusted EBITDA of $13.5 billion, down from $14.3 billion a year earlier, while revenue climbed 7% to $247.5 billion.

Adjusted EBIT fell 14% to $6 billion as coal operations dragged down overall performance. The company maintained its production guidance for key commodities for the second consecutive year, citing operational efficiency gains from its recently optimized structures. CEO Gary Nagle highlighted strong operational performance and portfolio optimization as key achievements.

The shareholder return includes an $800 million top-up distribution, providing a positive signal to investors despite the profit decline. The results came just weeks after Glencore's takeover talks with Rio Tinto collapsed, ending potential merger discussions that would have created the world's largest mining company.