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1、 Glencore Q1 2023 Production Report 1 NEWS RELEASE Baar,21 April 2023 First Quarter Production Report 2023 Glencore Chief Executive Officer,Gary Nagle:“First quarter production was broadly in line with our expectations,accounting for portfolio changes and operational conditions,including the disposa
2、ls/closures of some zinc and lead mines in the Americas during 2022.Full year production guidance is unchanged from that presented at Glencores investor presentation in December 2022.“Our Marketing segment continued to perform well through Q1 2023,particularly within energy products,such that extrap
3、olating Q1s Marketing Adjusted EBIT has us,once again,on track to exceed the top end of our$2.2-3.2 billion p.a.long-term guidance range.”Production from own sources Total1 Q1 2023 Q1 2022 Change%Copper kt 244.1 257.8 (5)Cobalt kt 10.5 9.7 8 Zinc kt 205.3 241.5 (15)Lead kt 39.3 46.8 (16)Nickel kt 20
4、.9 30.7 (32)Gold koz 187 189 (1)Silver koz 4,525 6,515 (31)Ferrochrome kt 400 387 3 Coal mt 26.9 28.5 (6)1.Controlled industrial assets and joint ventures only(excludes Volcan).Production is on a 100%basis,except as stated later in this report.Q1 production highlights Own sourced copper production o
5、f 244,100 tonnes was 13,700 tonnes(5%)lower than Q1 2022,largely due to planned lower grades in line with the phasing of the pit at Collahuasi and delays associated with adverse weather conditions at Antamina.Own sourced zinc production of 205,300 tonnes was 36,200 tonnes(15%)lower than Q1 2022,refl
6、ecting the disposal of South American zinc operations(14,400 tonnes)and the closure of Matagami(8,900 tonnes)in 2022,temporary suspension of operations due to wet weather at Antamina(5,900 tonnes)and McArthur River temporarily processing lower-grade feedstocks in accordance with its mine plan(4,700
7、tonnes).Own sourced nickel production of 20,900 tonnes was 9,800 tonnes(32%)lower than Q1 2022,primarily reflecting INO prioritising third party feed.Attributable ferrochrome production of 400,000 tonnes was 13,000 tonnes(3%)above Q1 2022.Coal production of 26.9 million tonnes was 1.6 million tonnes
8、(6%)lower than Q1 2022,mainly reflecting the short-term impact of a community blockade at Cerrejn and mining around geological anomalies in South Africa.Production guidance Actual FY Previous guidance Current guidance 2023 weighting 2022 2023 2023 H1 H2 Copper kt 1,058 1,040 30 1,040 30 48%52%Cobalt
9、 kt 43.8 38 5 38 5 51%49%Zinc kt 939 950 30 950 30 1 45%55%Nickel kt 108 112 5 112 5 45%55%Ferrochrome kt 1,488 1,310 30 1,310 30 54%46%Coal mt 110 110 5 110 5 49%51%1 Excludes Volcan Production guidance is unchanged from that presented in Glencores December 2022 investor update.HIGHLIGHTS CONTINUED
10、 Glencore Q1 2023 Production Report 2 Other highlights The full acquisition of CEZ zinc refinery in Canada completed in March 2023;prior Glencore ownership was 25%.The Newlands coal mine in Queensland ceased production in February 2023.The Liddell coal mine(NSW)is scheduled to cease production later
11、 in 2023.Our Marketing segment continued to perform well through Q1 2023,particularly within energy products,such that extrapolating Q1s Marketing Adjusted EBIT has us,once again,on track to exceed the top end of our$2.2-3.2 billion p.a.long-term guidance range.For further information please contact
12、:Investors Martin Fewings t:+41 41 709 2880 m:+41 79 737 5642 Media Charles Watenphul t:+41 41 709 2462 m:+41 79 904 3320 Glencore LEI:2138002658CPO9NBH955 Please refer to the end of this document for disclaimers including on forward-looking statements.Notes for Editors Glencore is one of the worlds
13、 largest global diversified natural resource companies and a major producer and marketer of more than 60 responsibly-sourced commodities that advance everyday life.Through a network of assets,customers and suppliers that spans the globe,we produce,process,recycle,source,market and distribute the com
14、modities that enable decarbonisation while meeting the energy needs of today.Glencore companies employ around 140,000 people,including contractors.With a strong footprint in over 35 countries in both established and emerging regions for natural resources,our marketing and industrial activities are s
15、upported by a global network of more than 40 offices.Glencores customers are industrial consumers,such as those in the automotive,steel,power generation,battery manufacturing and oil sectors.We also provide financing,logistics and other services to producers and consumers of commodities.Glencore is
16、proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals.We are an active participant in the Extractive Industries Transparency Initiative.Glencore recognises our responsibility to contribute to the global effort to achieve the
17、goals of the Paris Agreement.Our ambition is to be a net zero total emissions company by 2050.In August 2021,we increased our medium-term emission reduction target to a 50%reduction by 2035 on 2019 levels and introduced a new short-term target of a 15%reduction by 2026 on 2019 levels.METALS AND MINE
18、RALS Glencore Q1 2023 Production Report 3 PRODUCTION DATA Production from own sources Copper assets1 Q1 2023 Q1 2022 Change%African Copper(Katanga,Mutanda)Copper metal kt 61.8 55.6 11 Cobalt2 kt 9.8 8.8 11 Collahuasi3 Copper in concentrates kt 57.1 65.7 (13)Silver in concentrates koz 724 939 (23)Gol
19、d in concentrates koz 9 11 (18)Antamina4 Copper in concentrates kt 32.0 36.8 (13)Zinc in concentrates kt 31.8 37.7 (16)Silver in concentrates koz 923 1,279 (28)Other South America(Antapaccay,Lomas Bayas)Copper metal kt 17.9 17.6 2 Copper in concentrates kt 36.8 37.4 (2)Gold in concentrates and in do
20、r koz 21 14 50 Silver in concentrates and in dor koz 251 343 (27)Cobar Copper in concentrates kt 8.7 9.3 (6)Silver in concentrates koz 100 111 (10)Total Copper department Copper kt 214.3 222.4 (4)Cobalt kt 9.8 8.8 11 Zinc kt 31.8 37.7 (16)Gold koz 30 25 20 Silver koz 1,998 2,672 (25)Production from
21、own sources Zinc assets1 Q1 2023 Q1 2022 Change%Kazzinc Zinc metal kt 24.9 35.9 (31)Zinc in concentrates kt 9.4 0.3 n.m.Lead metal kt 4.8 5.4 (11)Lead in concentrates kt 3.5 n.m.Copper metal5 kt 3.4 6.1 (44)Gold koz 154 158 (3)Silver koz 693 837 (17)Silver in concentrates koz 140 n.m.Australia(Mount
22、 Isa,Townsville,McArthur River)Zinc in concentrates kt 128.5 135.3 (5)Copper metal kt 16.5 16.8 (2)Lead in concentrates kt 31.0 38.1 (19)Silver koz 180 113 59 Silver in concentrates koz 1,074 1,280 (16)North America(Matagami,Kidd)6 Zinc in concentrates kt 10.7 17.9 (40)Copper in concentrates kt 6.8
23、6.3 8 Silver in concentrates koz 392 220 78 Other Zinc:South America(Bolivia,Peru)6 Zinc in concentrates kt 14.4 (100)Lead in concentrates kt 3.3 (100)Copper in concentrates kt 0.4 (100)Silver in concentrates koz 1,351 (100)Total Zinc department Zinc kt 173.5 203.8 (15)Lead kt 39.3 46.8 (16)Copper k
24、t 26.7 29.6 (10)Gold koz 154 158 (3)Silver koz 2,479 3,801 (35)METALS AND MINERALS continued Glencore Q1 2023 Production Report 4 Production from own sources Nickel assets1 Q1 2023 Q1 2022 Change%Integrated Nickel Operations(INO)(Sudbury,Raglan,Nikkelverk)Nickel metal kt 8.1 15.9 (49)Copper metal kt
25、 2.0 4.0 (50)Copper in concentrates kt 1.1 1.8 (39)Cobalt metal kt 0.1 0.2 (50)Gold koz 3 6 (50)Silver koz 48 42 14 Platinum koz 6 7 (14)Palladium koz 16 25 (36)Rhodium koz 1 1 Murrin Murrin Nickel metal kt 7.8 7.7 1 Cobalt metal kt 0.6 0.7 (14)Koniambo Nickel in ferronickel kt 5.0 7.1 (30)Total Nic
26、kel department Nickel kt 20.9 30.7 (32)Copper kt 3.1 5.8 (47)Cobalt kt 0.7 0.9 (22)Gold koz 3 6 (50)Silver koz 48 42 14 Platinum koz 6 7 (14)Palladium koz 16 25 (36)Rhodium koz 1 1 Production from own sources Ferroalloys assets1 Q1 2023 Q1 2022 Change%Ferrochrome7 kt 400 387 3 Vanadium Pentoxide mlb
27、 5.4 5.5 (2)Total production Custom metallurgical assets1 Q1 2023 Q1 2022 Change%Copper(Altonorte,Pasar,Horne,CCR)Copper metal kt 128.2 108.8 18 Copper anode kt 119.9 111.4 8 Zinc(Portovesme,San Juan de Nieva,Nordenham,Northfleet)Zinc metal kt 140.6 179.0 (21)Lead metal kt 65.0 82.0 (21)1 Controlled
28、 industrial assets and joint ventures only(excludes Volcan).Production is on a 100%basis,except for joint ventures,where the Groups attributable share of production is included.2 Cobalt contained in concentrates and hydroxides.3 The Groups pro-rata share of Collahuasi production(44%).4 The Groups pr
29、o-rata share of Antamina production(33.75%).5 Copper metal includes copper contained in copper concentrates and blister.6 North and South American assets sold or closed since the beginning of 2022:Matagami(Canada)completed mining in June 2022,Bolivian Zinc sold in March 2022,Peruvian Zinc sold in De
30、cember 2022.7 The Groups attributable 79.5%share of the Glencore-Merafe Chrome Venture.METALS AND MINERALS continued Glencore Q1 2023 Production Report 5 OPERATING HIGHLIGHTS Copper assets Own sourced copper production of 244,100 tonnes was 13,700 tonnes(5%)lower than Q1 2022,largely due to planned
31、lower grades in line with the phasing of the pit at Collahuasi and delays associated with adverse weather conditions at Antamina.African Copper Own sourced copper production of 61,800 tonnes was 6,200 tonnes(11%)higher than Q1 2022,mainly reflecting improved management around Katangas geotechnical c
32、onstraints and Mutandas stronger performance post ramp-up period in late 2021/early 2022.Own sourced cobalt production of 9,800 tonnes was 1,000 tonnes(11%)higher than Q1 2022,mainly due to improvements in cobalt recovery at Katanga,partly offset by lower feed grades at Mutanda.Collahuasi Attributab
33、le copper production of 57,100 tonnes was 8,600 tonnes(13%)lower than Q1 2022,reflecting lower feed grades in line with the mining plan.Antamina Attributable copper production of 32,000 tonnes was 4,800 tonnes(13%)lower than Q1 2022,due to heavy rains in March,with damage risk to the export slurry p
34、ipeline leading to the temporary suspension of operations of the plant and pipeline.Attributable zinc production of 31,800 tonnes was 5,900 tonnes(16%)lower than Q1 2022 for the same reason.Other South America Copper production of 54,700 tonnes was in line with Q1 2022.Australia Own sourced copper p
35、roduction of 8,700 tonnes was 600 tonnes(6%)lower than Q1 2022,in line with the planned mining sequence.Custom metallurgical assets Copper anode production of 119,900 tonnes was 8,500 tonnes(8%)higher than Q1 2022,reflecting a stronger performance driven by higher feedstocks availability at Horne.Co
36、pper cathode production of 128,200 tonnes was 19,400 tonnes(18%)higher than Q1 2022,largely due to higher CCR production,supported by Hornes higher anode production.Zinc assets Own sourced zinc production of 205,300 tonnes was 36,200 tonnes(15%)lower than Q1 2022,reflecting the disposal of South Ame
37、rican zinc operations(14,400 tonnes)and the closure of Matagami(8,900 tonnes)in 2022,temporary suspension of operations due to wet weather at Antamina(5,900 tonnes)and McArthur River temporarily processing lower-grade feedstocks in accordance with its mine plan(4,700 tonnes).Kazzinc Own sourced zinc
38、 production of 34,300 tonnes was 1,900 tonnes(5%)lower than Q1 2022,due to preferential treatment of third-party concentrates during the period,not being fully offset by Zhairem ramping up.Own sourced lead production of 8,300 tonnes was 2,900 tonnes(54%)higher than Q1 2022,due to Zhairems ramp up.Ow
39、n sourced copper production of 3,400 tonnes was 2,700(44%)lower than Q1 2022,due to an unscheduled furnace shutdown at the copper smelter.Own sourced gold production of 154,000 ounces was in line with Q1 2022.Australia Zinc production of 128,500 tonnes was 6,800 tonnes(5%)lower than Q1 2022,as heavy
40、 rains impacted Mount Isa production and McArthur River processed lower-grade feedstocks in accordance with its mine plan.Lead production of 31,100 tonnes was 7,100 tonnes(19%)lower than Q1 2022 for the same reasons.Copper production of 16,500 tonnes was in line with Q1 2022.North America Zinc produ
41、ction of 10,700 tonnes was 7,200 tonnes(40%)lower than Q1 2022,mainly reflecting closure of Matagami mine in mid-2022.South America Following disposal of the Bolivian mines at the end of Q1 2022 and Los Quenuales in December 2022,no operating assets remain in this grouping.European custom metallurgi
42、cal assets Zinc metal production of 140,600 tonnes was 38,400 tonnes(21%)below Q1 2022,mainly relating to the suspension of Nordenham,given recent periods of high European power prices.METALS AND MINERALS continued Glencore Q1 2023 Production Report 6 Lead metal production of 65,000 tonnes was 17,00
43、0 tonnes(21%)lower than Q1 2022,reflecting lower bullion received at Northfleet from Mount Isa and Portovesmes partial care and maintenance.Nickel assets Own sourced nickel production of 20,900 tonnes was 9,800 tonnes(32%)lower than Q1 2022,primarily reflecting INO prioritising third party feed.Inte
44、grated Nickel Operations(INO)Own sourced nickel production of 8,100 tonnes was 7,800 tonnes(49%)lower than Q1 2022,due to the strike at Raglan in 2022,which impacted current period nickel production,given the long lead time from ore mining in Northern Quebec to finished nickel production in Norway.M
45、urrin Murrin Own sourced nickel production of 7,800 tonnes was in line with Q1 2022.Koniambo Nickel production of 5,000 tonnes was 2,100 tonnes(30%)lower than Q1 2022,due to a planned maintenance shutdown in Q1 2023.Ferroalloys assets Attributable ferrochrome production of 400,000 tonnes was 13,000
46、tonnes(3%)above Q1 2022.ENERGY PRODUCTS Glencore Q1 2023 Production Report 7 Coal assets1 Q1 2023 Q1 2022 Change%Australian coking coal mt 2.0 2.1 (5)Australian semi-soft coal mt 1.1 0.9 22 Australian thermal coal(export)mt 12.9 13.4 (4)Australian thermal coal(domestic)mt 1.5 1.4 7 South African the
47、rmal coal(export)mt 3.2 3.4 (6)South African thermal coal(domestic)mt 0.8 1.1 (27)Cerrejn mt 5.4 6.2 (13)Total Coal department mt 26.9 28.5 (6)Oil assets(non-operated)Q1 2023 Q1 2022 Change%Glencore entitlement interest basis Equatorial Guinea kboe 1,017 1,227 (17)Cameroon kbbl 191 273 (30)Total Oil
48、 department kboe 1,208 1,500 (19)1 Controlled industrial assets and joint ventures only.Production is on a 100%basis,except for joint ventures,where the Groups attributable share of production is included.OPERATING HIGHLIGHTS Coal assets Coal production of 26.9 million tonnes was 1.6 million tonnes(
49、6%)lower than Q1 2022,mainly reflecting the short-term impact of a community blockade at Cerrejn and mining around geological anomalies in South Africa.Australian coking Production of 2.0 million tonnes was 0.1 million tonnes(5%)lower than Q1 2022,as the Newlands mine ceased production in February 2
50、023.Australian thermal and semi-soft Production of 15.5 million tonnes was in line with Q1 2022.South African thermal Production of 4.0 million tonnes was 0.5 million tonnes(11%)lower than Q1 2022,mainly reflecting changes required to the iMpunzi mine plan in some pits,and closure of the Hlagisa min
51、e from May 2022.Cerrejn Production of 5.4 million tonnes was 0.8 million tonnes(13%)lower than Q1 2022,reflecting a community blockade during the period.Oil assets(non-operated)Exploration and production Entitlement interest oil production of 1.2 million barrels of oil equivalent was 0.3 million bar
52、rels(19%)lower than Q1 2022,largely due to natural field decline at Bolongo in Cameroon and the reduction of Glencores entitlement percentage share in the Equatorial Guinea project,following the recovery of historical costs under a production sharing contract.SELECTED AVERAGE COMMODITY PRICES Glenco
53、re Q1 2023 Production Report 8 MARKET CONDITIONS Selected average commodity prices Q1 2023 Q1 2022 Change%S&P GSCI Industrial Metals Index 460 549 (16)S&P GSCI Energy Index 266 317 (16)LME(cash)copper price($/t)8,941 9,997 (11)LME(cash)zinc price($/t)3,132 3,738 (16)LME(cash)lead price($/t)2,137 2,3
54、25 (8)LME(cash)nickel price($/t)25,973 26,388 (2)Gold price($/oz)1,892 1,879 1 Silver price($/oz)23 24 (4)Metal Bulletin cobalt standard grade,in-warehouse Rotterdam($/lb)16 36 (56)Ferro-chrome 50%Cr import,CIF main Chinese ports,contained Cr(/lb)108 111 (3)Iron ore(Platts 62%CFR North China)price($
55、/DMT)117 129 (9)Coal API4($/t)145 240 (40)Coal Newcastle(6,000)($/t)242 264 (8)Oil price Brent($/bbl)82 98 (16)PRODUCTION BY QUARTER Q1 2022 TO Q1 2023 Glencore Q1 2023 Production Report 9 Metals and minerals PRODUCTION FROM OWN SOURCES TOTAL1 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Change Q1 23 vs
56、Q1 22%Change Q1 23 vs Q4 22%Copper kt 257.8 252.4 260.3 287.6 244.1 (5)(15)Cobalt kt 9.7 11.0 12.4 10.7 10.5 8 (2)Zinc kt 241.5 239.2 218.9 238.9 205.3 (15)(14)Lead kt 46.8 48.3 41.8 54.7 39.3 (16)(28)Nickel kt 30.7 27.1 23.8 25.9 20.9 (32)(19)Gold koz 189 145 170 157 187 (1)19 Silver koz 6,515 6,06
57、4 5,299 5,872 4,525 (31)(23)Ferrochrome kt 387 399 324 378 400 3 6 Coal mt 28.5 26.9 26.5 28.1 26.9 (6)(4)Oil(entitlement interest basis)kboe 1,500 1,632 1,690 1,309 1,208 (19)(8)PRODUCTION FROM OWN SOURCES COPPER ASSETS1 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Change Q1 23 vs Q1 22%Change Q1 23 vs
58、Q4 22%African Copper(Katanga,Mutanda)Katanga Copper metal kt 50.3 45.8 56.7 67.3 53.6 7 (20)Cobalt2 kt 4.9 6.4 7.6 6.6 7.0 43 6 Mutanda Copper metal kt 5.3 8.6 8.2 11.2 8.2 55 (27)Cobalt2 kt 3.9 3.8 3.8 3.2 2.8 (28)(13)Total Copper metal kt 55.6 54.4 64.9 78.5 61.8 11 (21)Total Cobalt2 kt 8.8 10.2 1
59、1.4 9.8 9.8 11 Collahuasi3 Copper in concentrates kt 65.7 62.1 60.4 62.9 57.1 (13)(9)Silver in concentrates koz 939 864 738 809 724 (23)(11)Gold in concentrates koz 11 8 9 10 9 (18)(10)Antamina4 Copper in concentrates kt 36.8 40.4 38.9 36.4 32.0 (13)(12)Zinc in concentrates kt 37.7 34.5 39.6 32.5 31
60、.8 (16)(2)Silver in concentrates koz 1,279 1,327 1,340 1,018 923 (28)(9)Other South America(Antapaccay,Lomas Bayas)Antapaccay Copper in concentrates kt 37.4 36.3 34.8 42.5 36.8 (2)(13)Gold in concentrates koz 14 15 13 19 21 50 11 Silver in concentrates koz 343 300 263 316 251 (27)(21)Lomas Bayas Cop
61、per metal kt 17.6 17.4 18.2 19.4 17.9 2 (8)Total Copper metal kt 17.6 17.4 18.2 19.4 17.9 2 (8)Total Copper in concentrates kt 37.4 36.3 34.8 42.5 36.8 (2)(13)Total Gold in concentrates and in dor koz 14 15 13 19 21 50 11 Total Silver in concentrates and in dor koz 343 300 263 316 251 (27)(21)PRODUC
62、TION BY QUARTER Q1 2022 TO Q1 2023 continued Glencore Q1 2023 Production Report 10 Metals and minerals PRODUCTION FROM OWN SOURCES COPPER ASSETS1 CONTINUED Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Change Q1 23 vs Q1 22%Change Q1 23 vs Q4 22%Australia(Cobar)Cobar Copper in concentrates kt 9.3 9.5 7.3
63、11.2 8.7 (6)(22)Silver in concentrates koz 111 101 95 139 100 (10)(28)Total Copper department Copper kt 222.4 220.1 224.5 250.9 214.3 (4)(15)Cobalt kt 8.8 10.2 11.4 9.8 9.8 11 Zinc kt 37.7 34.5 39.6 32.5 31.8 (16)(2)Gold koz 25 23 22 29 30 20 3 Silver koz 2,672 2,592 2,436 2,282 1,998 (25)(12)PRODUC
64、TION BY QUARTER Q1 2022 TO Q1 2023 continued Glencore Q1 2023 Production Report 11 Metals and minerals PRODUCTION FROM OWN SOURCES ZINC ASSETS1 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Change Q1 23 vs Q1 22%Change Q1 23 vs Q4 22%Kazzinc Zinc metal kt 35.9 31.6 30.2 28.0 24.9 (31)(11)Zinc in concentra
65、tes kt 0.3 6.1 5.7 8.6 9.4 n.m.9 Lead metal kt 5.4 4.4 3.3 3.8 4.8 (11)26 Lead in concentrates kt 0.4 3.5 n.m.n.m.Copper metal5 kt 6.1 4.2 5.9 4.3 3.4 (44)(21)Gold koz 158 119 144 125 154 (3)23 Silver koz 837 603 583 698 693 (17)(1)Silver in concentrates koz 12 140 n.m.n.m.Kazzinc total smelter prod
66、uction including third party feed Zinc metal kt 71.7 68.5 61.2 55.5 63.5 (11)14 Lead metal kt 27.7 28.0 26.1 25.8 23.9 (14)(7)Copper metal kt 15.3 12.3 14.3 13.9 11.5 (25)(17)Gold koz 216 210 224 262 261 21 Silver koz 5,731 5,517 5,798 4,959 4,861 (15)(2)Australia(Mount Isa,McArthur River)Mount Isa
67、Zinc in concentrates kt 63.7 72.9 66.4 87.2 61.6 (3)(29)Copper metal kt 16.8 12.2 18.4 23.1 16.5 (2)(29)Lead in concentrates kt 22.6 29.3 26.6 36.0 18.8 (17)(48)Silver koz 113 125 112 207 180 59 (13)Silver in concentrates koz 741 1,080 921 1,383 708 (4)(49)Mount Isa,Townsville total production inclu
68、ding third party feed Copper metal kt 46.7 37.0 51.6 56.2 44.3 (5)(21)Gold koz 34 36 35 43 37 9 (14)Silver koz 427 457 423 578 408 (4)(29)McArthur River Zinc in concentrates kt 71.6 67.8 63.9 70.5 66.9 (7)(5)Lead in concentrates kt 15.5 12.5 10.3 13.1 12.2 (21)(7)Silver in concentrates koz 539 330 2
69、27 371 366 (32)(1)Total Zinc in concentrates kt 135.3 140.7 130.3 157.7 128.5 (5)(19)Total Copper kt 16.8 12.2 18.4 23.1 16.5 (2)(29)Total Lead in concentrates kt 38.1 41.8 36.9 49.1 31.0 (19)(37)Total Silver koz 113 125 112 207 180 59 (13)Total Silver in concentrates koz 1,280 1,410 1,148 1,754 1,0
70、74 (16)(39)North America(Matagami,Kidd)6 Matagami Zinc in concentrates kt 8.9 8.4 (100)n.m.Copper in concentrates kt 1.5 1.7 (100)n.m.Kidd Zinc in concentrates kt 9.0 13.6 8.2 8.4 10.7 19 27 Copper in concentrates kt 4.8 8.3 7.1 4.9 6.8 42 39 Silver in concentrates koz 220 529 305 292 392 78 34 Tota
71、l Zinc in concentrates kt 17.9 22.0 8.2 8.4 10.7 (40)27 Total Copper in concentrates kt 6.3 10.0 7.1 4.9 6.8 8 39 Total Silver in concentrates koz 220 529 305 292 392 78 34 PRODUCTION BY QUARTER Q1 2022 TO Q1 2023 continued Glencore Q1 2023 Production Report 12 Metals and minerals PRODUCTION FROM OW
72、N SOURCES ZINC ASSETS1 CONTINUED Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Change Q1 23 vs Q1 22%Change Q1 23 vs Q4 22%Other Zinc:South America(Bolivia,Peru)6 Zinc in concentrates kt 14.4 4.3 4.9 3.7 (100)(100)Lead in concentrates kt 3.3 2.1 1.6 1.4 (100)(100)Copper in concentrates kt 0.4 0.3 0.4 0.3
73、(100)(100)Silver in concentrates koz 1,351 757 670 567 (100)(100)Total Zinc department Zinc kt 203.8 204.7 179.3 206.4 173.5 (15)(16)Lead kt 46.8 48.3 41.8 54.7 39.3 (16)(28)Copper kt 29.6 26.7 31.8 32.6 26.7 (10)(18)Gold koz 158 119 144 125 154 (3)23 Silver koz 3,801 3,424 2,818 3,530 2,479 (35)(30
74、)PRODUCTION BY QUARTER Q1 2022 TO Q1 2023 continued Glencore Q1 2023 Production Report 13 Metals and minerals PRODUCTION FROM OWN SOURCES NICKEL ASSETS1 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Change Q1 23 vs Q1 22%Change Q1 23 vs Q4 22%Integrated Nickel Operations(Sudbury,Raglan,Nikkelverk)Nickel m
75、etal kt 15.9 11.8 8.8 9.7 8.1 (49)(16)Nickel in concentrates kt 0.1 0.1 n.m.(100)Copper metal kt 4.0 3.2 2.2 2.5 2.0 (50)(20)Copper in concentrates kt 1.8 2.4 1.8 1.6 1.1 (39)(31)Cobalt metal kt 0.2 0.1 0.2 0.1 0.1 (50)Gold koz 6 3 4 3 3 (50)Silver koz 42 48 45 60 48 14 (20)Platinum koz 7 10 7 8 6 (
76、14)(25)Palladium koz 25 25 17 16 16 (36)Rhodium koz 1 1 1 1 1 Integrated Nickel Operations total production including third party feed Nickel metal kt 22.6 19.8 15.9 23.6 23.9 6 1 Nickel in concentrates kt 0.1 0.1 (100)n.m.Copper metal kt 5.1 5.0 3.7 4.7 5.2 2 11 Copper in concentrates kt 2.2 3.3 2.
77、4 2.7 1.6 (27)(41)Cobalt metal kt 0.9 0.7 0.6 0.9 0.9 Gold koz 9 7 7 6 6 (33)Silver koz 126 127 111 130 86 (32)(34)Platinum koz 17 22 14 16 12 (29)(25)Palladium koz 62 63 47 49 46 (26)(6)Rhodium koz 1 1 1 2 1 (50)Murrin Murrin Total Nickel metal kt 7.7 9.4 9.5 9.1 7.8 1 (14)Total Cobalt metal kt 0.7
78、 0.7 0.8 0.8 0.6 (14)(25)Murrin Murrin total production including third party feed Total Nickel metal kt 8.9 10.7 10.5 10.3 8.9 (14)Total Cobalt metal kt 0.8 0.8 0.8 0.9 0.7 (13)(22)Koniambo Nickel in ferronickel kt 7.1 5.8 5.5 7.0 5.0 (30)(29)Total Nickel department Nickel kt 30.7 27.1 23.8 25.9 20
79、.9 (32)(19)Copper kt 5.8 5.6 4.0 4.1 3.1 (47)(24)Cobalt kt 0.9 0.8 1.0 0.9 0.7 (22)(22)Gold koz 6 3 4 3 3 (50)Silver koz 42 48 45 60 48 14 (20)Platinum koz 7 10 7 8 6 (14)(25)Palladium koz 25 25 17 16 16 (36)Rhodium koz 1 1 1 1 1 PRODUCTION BY QUARTER Q1 2022 TO Q1 2023 continued Glencore Q1 2023 Pr
80、oduction Report 14 Metals and minerals PRODUCTION FROM OWN SOURCES FERROALLOYS ASSETS1 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Change Q1 23 vs Q1 22%Change Q1 23 vs Q4 22%Ferrochrome7 kt 387 399 324 378 400 3 6 Vanadium pentoxide mlb 5.5 4.4 4.4 5.5 5.4 (2)(2)TOTAL PRODUCTION CUSTOM METALLURGICAL AS
81、SETS1 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Change Q1 23 vs Q1 22%Change Q1 23 vs Q4 22%Copper(Altonorte,Pasar,Horne,CCR)Copper metal kt 108.8 123.2 94.2 130.7 128.2 18 (2)Copper anode kt 111.4 126.8 104.8 131.9 119.9 8 (9)Zinc(Portovesme,San Juan de Nieva,Nordenham,Northfleet)Zinc metal kt 179.0
82、171.9 176.9 155.2 140.6 (21)(9)Lead metal kt 82.0 77.0 57.1 57.3 65.0 (21)13 1 Controlled industrial assets and joint ventures only(excludes Volcan).Production is on a 100%basis,except for joint ventures,where the Groups attributable share of production is included.2 Cobalt contained in concentrates
83、 and hydroxides.3 The Groups pro-rata share of Collahuasi production(44%).4 The Groups pro-rata share of Antamina production(33.75%).5 Copper metal includes copper contained in copper concentrates and blister.6 North and South American assets sold or closed since the beginning of 2022:Matagami(Canad
84、a)completed mining in June 2022,Bolivian Zinc sold in March 2022,Peruvian Zinc sold in December 2022.7 The Groups attributable 79.5%share of the Glencore-Merafe Chrome Venture.PRODUCTION BY QUARTER Q1 2022 TO Q1 2023 continued Glencore Q1 2023 Production Report 15 Energy products PRODUCTION FROM OWN
85、 SOURCES COAL ASSETS1 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Change Q1 23 vs Q1 22%Change Q1 23 vs Q4 22%Australian coking coal mt 2.1 1.8 2.3 2.5 2.0 (5)(20)Australian semi-soft coal mt 0.9 0.9 1.0 1.2 1.1 22 (8)Australian thermal coal(export)mt 13.4 14.2 12.1 13.7 12.9 (4)(6)Australian thermal co
86、al(domestic)mt 1.4 1.6 2.4 2.4 1.5 7 (38)South African thermal coal(export)mt 3.4 2.9 3.5 2.9 3.2 (6)10 South African thermal coal(domestic)mt 1.1 0.9 0.9 0.8 0.8 (27)Cerrejn mt 6.2 4.6 4.3 4.6 5.4 (13)17 Total Coal department mt 28.5 26.9 26.5 28.1 26.9 (6)(4)OIL ASSETS(NON-OPERATED)Q1 2022 Q2 2022
87、 Q3 2022 Q4 2022 Q1 2023 Change Q1 23 vs Q1 22%Change Q1 23 vs Q4 22%Glencore entitlement interest basis Equatorial Guinea kboe 1,227 1,318 1,458 1,104 1,017 (17)(8)Cameroon kbbl 273 314 232 205 191 (30)(7)Total Oil department kboe 1,500 1,632 1,690 1,309 1,208 (19)(8)Gross basis Equatorial Guinea k
88、boe 5,956 6,406 7,089 6,858 6,027 1 (12)Cameroon kbbl 680 676 571 508 483 (29)(5)Total Oil department kboe 6,636 7,082 7,660 7,366 6,510 (2)(12)1 Controlled industrial assets and joint ventures only.Production is on a 100%basis,except for joint ventures,where the Groups attributable share of product
89、ion is included.FULL YEAR 2023 PRODUCTION GUIDANCE Glencore Q1 2023 Production Report 16 Actual FY Actual FY Actual FY Previous guidance Current guidance 2023 weighting 2020 2021 2022 2023 2023 H1 H2 Copper kt 1,258 1,196 1,058 1,040 30 1,040 30 48%52%Cobalt kt 27.4 31.3 43.8 38 5 38 5 51%49%Zinc kt
90、 1,170 1,118 939 950 30 950 30 1 45%55%Nickel kt 110 102 108 112 5 112 5 45%55%Ferrochrome kt 1,029 1,468 1,488 1,310 30 1,310 30 54%46%Coal mt 106 103 110 110 5 110 5 49%51%1 Excludes Volcan.Production guidance is unchanged from that presented in Glencores December 2022 investor update.Glencore Q1
91、2023 Production Report 17 Important notice concerning this report including forward-looking statements Given the focus of this document,it is necessarily oriented towards future events and therefore contains statements that are,or may be deemed to be,“forward-looking statements”which are prospective
92、 in nature.Such statements may include(without limitation)statements in respect of trends in commodity prices and currency exchange rates;demand for commodities;reserves and resources and production forecasts;expectations,plans,strategies and objectives of management;climate scenarios;sustainability
93、 performance(including,without limitation,environmental,social and governance)related goals,ambitions,targets,intentions,visions,milestones and aspirations;approval of certain projects and consummation of certain transactions(including,without limitation,acquisitions and disposals);closures or dives
94、tments of certain assets,operations or facilities(including,without limitation,associated costs);capital costs and scheduling;operating costs and supply of materials and skilled employees;financings;anticipated productive lives of projects,mines and facilities;provisions and contingent liabilities;a
95、nd tax,legal and regulatory developments.These forward-looking statements may be identified by the use of forward-looking terminology,or the negative thereof including,without limitation,“outlook”,“guidance”,“trend”,“plans”,“expects”,“continues”,“assumes”,“is subject to”,“budget”,“scheduled”,“estima
96、tes”,“aims”,“forecasts”,“risks”,“intends”,“positioned”,“predicts”,“projects”,“anticipates”,“believes”,or variations of such words or comparable terminology and phrases or statements that certain actions,events or results“may”,“could”,“should”,“shall”,“would”,“might”or“will”be taken,occur or be achie
97、ved.The information in this document provides an insight into how we currently intend to direct the management of our businesses and assets and to deploy our capital to help us implement our strategy.The matters disclosed in this document are a point in time disclosure only.Forward-looking statement
98、s are not based on historical facts,but rather on current predictions,expectations,beliefs,opinions,plans,objectives,goals,intentions and projections about future events,results of operations,prospects,financial conditions and discussions of strategy,and reflect judgments,assumptions,estimates and o
99、ther information available as at the date of this document or the date of the corresponding planning or scenario analysis process.By their nature,forward-looking statements involve known and unknown risks,uncertainties and other factors which may cause actual results,performance or achievements to d
100、iffer materially from any future event,results,performance,achievements or other outcomes expressed or implied by such forward-looking statements.Important factors that could impact these uncertainties include(without limitation)those disclosed in the risk management section of our latest Annual Rep
101、ort and Half-Year Report(which can each be found on our website).These risks and uncertainties may materially affect the timing and feasibility of particular developments.Other factors which impact risks and uncertainties include,without limitation:the ability to produce and transport products profi
102、tably;demand for our products;changes to the assumptions regarding the recoverable value of our tangible and intangible assets;changes in environmental scenarios and related regulations,including(without limitation)transition risks and the evolution and development of the global transition to a low
103、carbon economy;recovery rates and other operational capabilities;health,safety,environmental or social performance incidents;natural catastrophes or adverse geological conditions,including(without limitation)the physical risks associated with climate change;the outcome of litigation or enforcement o
104、r regulatory proceedings;the effect of foreign currency exchange rates on market prices and operating costs;actions by governmental authorities,such as changes in taxation or regulation or changes in the decarbonisation plans of other countries;and political uncertainty.Readers,including(without lim
105、itation)investors and prospective investors,should review and take into account these risks and uncertainties(as well as the other risks identified in this document)when considering the information contained in this document.Readers should also note that the high degree of uncertainty around the nat
106、ure,timing and magnitude of climate-related risks,and the uncertainty as to how the energy transition will evolve,makes it difficult to determine and disclose the risks and their potential impacts with precision.Neither Glencore nor any of its affiliates,associates,employees,directors,officers or ad
107、visers,provides any representation,warranty,assurance or guarantee that the occurrence of the events,results,performance,achievements or other outcomes expressed or implied in any forward-looking statements in this document will actually occur.Glencore cautions readers against reliance on any forwar
108、d-looking statements contained in this document,particularly in light of the long-term time horizon which this report discusses and the inherent uncertainty in possible policy,market and technological developments in future.No statement in this document is intended as any kind of forecast(including,
109、without limitation,a profit forecast or a profit estimate),guarantees or predictions of future events or performance and past performance cannot be relied on as a guide to future performance.Neither Glencore nor any of its affiliates,associates,employees,directors,officers or advisers,provides any r
110、epresentation,warranty,assurance or guarantee as to the accuracy,completeness or correctness,likelihood of achievement or reasonableness of any forward-looking information contained in this document.Glencore operates in a dynamic and uncertain market and external environment.Plans and strategies can
111、 and must adapt in response to dynamic market conditions,joint venture decisions,new opportunities that might arise or other changing circumstances.Investors should not assume that our strategy on climate change will not evolve and be updated as time passes.Additionally,a number of aspects of our st
112、rategy involve developments or workstreams that are complex and may be delayed,more costly than anticipated or unsuccessful for many reasons,including(without limitation)reasons that are outside of Glencores control.There are inherent limitations to scenario analysis and it is difficult to predict w
113、hich,if any,of the scenarios might eventuate.Scenario analysis relies on assumptions that may or may not be,or prove to be,correct and that may or may not eventuate and scenarios may also be impacted by additional factors to the assumptions disclosed.Given these limitations we treat these scenarios
114、as one of several inputs that we consider in our climate strategy.Glencore Q1 2023 Production Report 18 Due to the inherent uncertainty and limitations in measuring greenhouse gas(GHG)emissions and operational energy consumption under the calculation methodologies used in the preparation of such dat
115、a,all CO2e emissions and operational energy consumption data or volume references(including,without limitation,ratios and/or percentages)in this document are estimates.There may also be differences in the manner that third parties calculate or report such data compared to Glencore,which means that t
116、hird-party data may not be comparable to Glencores data.For information on how we calculate our emissions and operational energy consumption data,see our latest Basis of Reporting,Climate Report and Extended ESG Data,which can be found on our website.This document does not constitute or form part of
117、 any offer or invitation to sell or issue,or any solicitation of any offer to purchase or subscribe for any securities.Except as required by applicable regulations or by law,Glencore is not under any obligation,and Glencore and its affiliates expressly disclaim any intention,obligation or undertakin
118、g,to update or revise any forward-looking statements,whether as a result of new information,future events or otherwise.This document shall not,under any circumstances,create any implication that there has been no change in the business or affairs of Glencore since the date of this document or that t
119、he information contained herein is correct as at any time subsequent to its date.Certain statistical and other information about Glencore included in this document is sourced from publicly available third-party sources.As such it has not been independently verified and presents the view of those thi
120、rd parties,but may not necessarily correspond to the views held by Glencore and Glencore expressly disclaims any responsibility for,or liability in respect of,and makes no representation or guarantee in relation to,such information(including,without limitation,as to its accuracy,completeness or whet
121、her it is current).Glencore cautions readers against reliance on any of the industry,market or other third-party data or information contained in this report.Subject to any terms implied by law which cannot be excluded,Glencore accepts no responsibility for any loss,damage,cost or expense(whether di
122、rect or indirect)incurred by any person as a result of any error,omission or misrepresentation in information in this report.The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities.In this document,“Glencore”,“Glencore group”and“Group”are
123、used for convenience only where references are made to Glencore plc and its subsidiaries in general.These collective expressions are used for ease of reference only and do not imply any other relationship between the companies.Likewise,the words“we”,“us”and“our”are also used to refer collectively to members of the Group or to those who work for them.These expressions are also used where no useful purpose is served by identifying the particular company or companies.