COAL | FINANCIAL

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Glencore raises coal output 3% in 2023

(Montel) Anglo-Swiss trading and mining firm Glencore raised coal production by 3.6m tonnes – or 3% – in 2023 to 113.6m tonnes amid more favourable weather conditions and improved productivity, it said on Thursday.

The rise reflected “higher productivity in South Africa and a year-over-year easing in certain external factors that constrain capacity, such as wet weather and blockades,” the firm said in its 2023 production report.

Its production of South African thermal coal for export grew 8% to 13.7m tonnes.

But export volumes were still constrained by capacity restrictions on the country’s rail network, Glencore added.

Thermal coal output for export from its Australian operations was up 3% to 55.2m tonnes, while Colombian output totalled 22m tonnes, which was 12% higher on the year.

The Colombian increase reflected “heavy rains and extended blockades”, which hampered railings to the export port in the previous year, it said.

The firm provisionally expected full-year 2024 production to total somewhere between 105-114m tonnes.