Glencore, one of the world’s largest natural resource companies, has released its wide-ranging third-quarter 2025 report, which outlines a varied performance across its commodities.
The company has maintained its full-year production guidance, with marketing-adjusted earnings before interest and taxes (EBIT) expected to be around the mid-point of its upgraded $2.3 to $3.5 billion range.
Own-sourced copper production of 583,500 tonnes was 121,700 tonnes (17 per cent) below the comparable 2024 period, primarily due to lower head grades and recoveries associated with planned mine sequencing. In contrast, other key commodities saw year-to-date increases: cobalt production rose 8 per cent to 28.5 kt, zinc production increased 10 per cent to 709.4 kt, and steelmaking coal production jumped 123 per cent to 24.7 mt.
Despite the year-to-date decline, copper production rebounded strongly in the third quarter, rising 36 per cent from the second quarter of 2025.
“Underpinned by a strong third-quarter production performance, particularly in copper and coal, full-year 2025 production guidance for our key commodities has been maintained, with ranges tightened to reflect just one quarter remaining,” Glencore chief executive officer Gary Nagle said.
In other operational updates, Glencore completed the sale of its Pasar copper smelter and refinery in the Philippines in September 2025. Additionally, the Mount Isa copper mine ceased operations in July 2025, and future copper smelting and refining activities there will now rely entirely on third-party feedstocks.
