Glencore's Copper-Production Cut, Capital Expenditure Plans Are a Necessary Reset -- Market Talk

Dow Jones12-03

1419 GMT - Glencore's copper-production cut and higher capital expenditure plans for next year are necessary to reset expectations, RBC Capital Markets analysts write. The miner cut its copper guidance for next year and said it plans to restart its Alumbrera copper mine in Argentina in the fourth quarter, while backing production guidance for 2027 and 2028. The decision to restart operations at Alumbrera will de-risk the Mara mining project and boost copper production in the longer term, the analysts said. Glencore is up 5.9% as it details plans in a global markets day, while copper futures are on track to close at an all time high, with the base metal trading at $11,424 on the London Metal Exchange. (josephmichael.stonor@wsj.com)

(END) Dow Jones Newswires

December 03, 2025 09:20 ET (14:20 GMT)

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