Global mining giant Glencore said its coal production increased 3.3% from 110 million tonnes in 2022 to 113.6 million tonnes in 2023, according to its latest operating report.

Overall 2023 production reached the company's earlier revised guidance, mainly driven by a stronger growth in the second half that eclipsed a decline in the first due to wet weather and logistics restrictions, the CEO of Glencore Gary Nagle said.

Glencore's thermal coal production totaled 102 million tonnes in 2023, up 4.8% year on year.

Thermal coal production from Australia contributed to 62.2 million tonnes. Of this, 55.2 million tonnes were produced for exports, a 3.4% rise, while domestic supply fell 10.3% to 7 million tonnes, the report showed.

Output from South Africa reached 17.8 million tonnes over the year. The volume for exports came in at 13.7 million tonnes, 7.9% higher than the year-ago level, while domestic supply gained 10.8% at 4.1 million tonnes. The company said capacity restrictions of the South African rail network have affected its coal output in 2023.

The company's fully-owned Cerrejon mine in Colombia produced 22 million tonnes of thermal coal last year, rising 4.8% from a year ago.

In terms of met. coal production, which fell 8.7% to 11.6 million tonnes, coking coal production fell 13.8% to 7.5 million tonnes, while semi-soft coking coal output was up 2.5% to 4.1 million tonnes.

The report said the company's production of all coal types totaled 29.7 million tonnes in the fourth quarter, up 5.7% year on year and unchanged quarter on quarter, including 26.1 million tonnes of thermal coal and 3.6 million tonnes of metallurgical coal.

Glencore has maintained its 2024 coal production target unchanged at 105-115 million tonnes.

(Writing by Riley Liang  Editing by Alex Guo)
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