Glencore-Xstrata reports higher copper output

Swiss-based mining giant Glencore Xstrata raised its copper production by 18 percent in the first three months of 2012 from output in the same period a year ago, the company said on Monday.

In a quarterly output report, the new-born industry behemoth said that its produced 321,000 tonnes of copper from January to March.
Swiss-based  Glencore Xstrata said that the growth was driven by increased 
production at its mines in Peru's Antapaccay, as well as Mount Margaret in Australia, and in Katanga and Mutanda in the Democratic Republic of Congo.
In Africa alone, copper output increased by 44 percent.

Glencore Xstrata noted that capacity at the Katanga and Mutunda mines was 
being expanded this year to give them an annual output of 270,000 tonnes and 200,000 tonnes.
In its energy sector, Glencore Xstrata's performance was modest, with coal 
production increasing by 1.0 percent to 32.7 million tonnes.
Oil production, meanwhile, rose by 2.0 percent to close to 5.4 million 
Glencore Xstrata said that in its trading arm, metals and minerals had 
delivered "solid results" during the quarter despite dipping prices, while coal and oil saw "markedly improved profitability".
Its agricultural products business made a "slow start" to 2013, it said, 
underlining that the first quarter is often weaker than other times of the year.
Glencore Xstrata was created formally at the beginning of this month via a 
merger between commodities trader Glencore International and mining heavyweight Xstrata.
Chinese regulators had been the last to give their approval, and the merger 
was put on ice for several months pending their decision.
One of the conditions of China's green light was that Glencore Xstrata 
would sells its interest in the Las Bambas copper mine project in Peru to Chinese-approved players by the end of September 2014.
In a separate statement 
on Monday, Glencore Xstrata said that it had pulled the plug on a coal terminal project in Australia — which had been planned by Xstrata.
Glencore was founded in 1974 as Marc Rich + Co AG.

It started out with a focus on ferrous and non-ferrous metals, minerals and 
crude oil, before expanding into oil products shortly thereafter.
The roots of Xstrata, meanwhile, lie in Swiss infrastructure company 
Sudelektra AG, founded in 1926.
 The company was renamed Xstrata AG in 1999.

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At least 19 illegal miners killed at subsidiary of Swiss-based Glencore

At least 19 illegal miners were killed on Thursday after part of a copper mine collapsed in southeastern DR Congo, Swiss-based mining giant Glencore said.

At least 19 illegal miners killed at subsidiary of Swiss-based Glencore
Photo: AFP

The incident happened when two galleries caved in at a mine in the Kolwezi area operated by Kamoto Copper Company (KCC), a subsidiary of Glencore.

“Tragically there were 19 fatalities today, with possible further unconfirmed fatalities,” Glencore said in a statement, which said there had been recurrent problems with illicit mining on its concessions.

Other reports suggest the death toll could be higher. 

The Congolese site Actualite.CD reported at least 36 deaths.

“The illegal artisanal miners were working two galleries in benches overlooking the extraction area. Two of these galleries caved in,” the company said.

Glencore said KCC had observed a “growing presence” of illegal miners, with on average 2,000 people a day intruding on its operating sites.

“KCC urges all illegal miners to cease from putting their lives at risk by trespassing on a major industrial site,” Glencore said.

Illegal mining is common and frequently deadly in Democratic Republic of Congo, where safety is often poor and risk-taking high.

Figures indicating the scale of the problem are sketchy, given that many mines are illegal and remote.