嘉能可Glencore（GLEN）2025年第三季度财报「LSE」（英文版）（16页）.pdf

1、 Glencore Third Quarter 2025 Production Report 1 NEWS RELEASE Baar,29 October 2025 Third Quarter 2025 Production Report Glencore Chief Executive Officer,Gary Nagle:“Underpinned by a strong third quarter production performance,particularly in copper and coal,full-year 2025 production guidance for our

2、 key commodities has been maintained,with ranges tightened to reflect just one quarter remaining.“Copper production volumes increased 36%quarter on quarter,reflecting stronger performance at KCC+66%,Mutanda+60%,Antamina+52%and Antapaccay+66%.Zinc volumes year to date are tracking up 10%period-on-per

3、iod while steelmaking and energy coal volumes are on track for full year outcomes towards the middle and upper ends of their respective earlier guidance ranges.“Basis Marketings performance year to date,we expect full year Marketing Adjusted EBIT around the mid-point of our recently upgraded$2.3-$3.

4、5 billion p.a.long-term through the cycle guidance range.”Production from own sources Total1 YTD 2025 YTD 2024 Change%Copper kt 583.5 705.2 (17)Cobalt kt 28.5 26.5 8 Zinc kt 709.4 643.6 10 Lead kt 132.7 136.2 (3)Nickel kt 52.4 62.3 (16)Gold koz 448 543 (17)Silver koz 14,818 13,965 6 Ferrochrome kt 4

5、36 894 (51)Steelmaking coal mt 24.7 11.1 123 Energy coal mt 73.5 73.1 1 Expressed in copper equivalents2 kt 2,289 2,254 2 1 Controlled industrial assets and joint ventures only.Production is on a 100%basis,except as stated later in this report.2 Copper equivalent production is calculated on the basi

6、s of the 2025 YTD average commodity prices shown on page 9,except coal,where our realised prices,post portfolio mix adjustment,have been used.Production highlights Own sourced copper production of 583,500 tonnes was 121,700 tonnes(17%)below the comparable 2024 period,primarily due to lower head grad