嘉能可Glencore（GLEN）2025年第四季度及全年财报「LSE」（英文版）（16页）.pdf

1、 Glencore Full Year 2025 Production Report 1 NEWS RELEASE Baar,29 January 2026 Full Year 2025 Production Report Glencore Chief Executive Officer,Gary Nagle:“Glencore,for the second consecutive year,achieved full year production volumes for our key commodities within guidance ranges,reflecting the on

2、going benefits of our recently optimised and simplified operating structures.Notably,H2 2025 copper production of over 500kt was almost 50%above H1,primarily due to higher copper grades and recoveries at KCC,Mutanda,Antapaccay and Antamina.In zinc,H2 volumes were up 39kt(+8%vs H1),reflecting increas

3、ed contributions from McArthur River,Kidd and Kazzinc,while in coal,energy and steelmaking volumes were higher by 1.4Mt and 1.1Mt respectively.“At our Capital Markets Day in Q4 2025,we provided updated and expanded guidance on our copper asset portfolio,outlining our pathway,from an already signific

4、ant copper producer,to become one of the worlds largest producers over the next decade.In support thereof,I am pleased to report that our 2025 Resources and Reserves report(also released today)includes additions to our copper mineral resource base,with notable increases at NewRange,Antapaccay,Corocc

5、ohuayco,Lomas Bayas and El Pachn.“We expect to report FY 2025 Marketing Adjusted EBIT around the mid-point of our recently upgraded(in July 2025)$2.3-3.5 billion p.a.long-term through the cycle guidance range.”Production from own sources Total1 H2 2025 H1 2025 Change%2025 2024 Change%Copper kt 507.7

6、 343.9 48 851.6 951.6(11)Cobalt kt 17.2 18.9(9)36.1 38.2(5)Zinc kt 504.2 465.2 8 969.4 905.0 7 Lead kt 88.0 90.9(3)178.9 185.9(4)Nickel kt 35.3 36.6(4)71.9 82.3(13)Gold koz 303 301 1 604 738(18)Silver koz 11,328 9,097 25 20,425 19,286 6 Chrome Ore kt 1,896 1,717 10 3,613 3,678(2)Steelmaking coal mt