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Glencore lowers coal production targets

Glencore lowers coal production targets

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Mining and commodities trading group Glencore on Friday lowered its production target for several commodities including coal, due to disruption from flooding and severe weather events.

The Switzerland-based firm said it had cut its coal production target to 110 million tonnes, down nine percent from its previous forecast in July.

The Switzerland-based firm said it had cut its coal production target to 110 million tonnes, down nine percent from its previous forecast in July.

The group’s production had been affected by “severe flooding” and higher than average rainfall in Australia, it said, as well as supply chain issues due to the war in Ukraine.

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