Glencore, a global mining company, has announced a cut in its 2023 nickel production guidance. The company has reduced the guidance by 9% to 102,000 tonnes, citing a longer than expected recovery period after a strike in 2022, smelter maintenance, and a lower revision for Koniambo. Additionally, Glencore has also lowered its 2023 ferrochrome guidance by 8% to 1.2 million tonnes, due to lower production in the second half of the year, smelter downtime, and market conditions. Meanwhile, ArcelorMittal shares have fallen by 5% after the Kazakh government revealed plans to take over the company's operations in the country following a mining accident.
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Glencore cuts 2023 #ferrochrome guidance -8% to 1.2 million tonnes, +/- 30,000 tonnes, citing lower H2 production, additional smelter offline days and further cuts in response to market conditions. FY chrome ore production expected to "only be modestly below" 2022 levels, it adds
Glencore trims 2023 #nickel production guidance -9% to 102,000 tonnes, +/- 4,000 tonnes, from 112,000 tonnes, +/- 5,000 tonnes previously. Cites longer than expected recovery period after Raglan strike in 2022, Sudbury smelter maintenance and a lower FY revision for Koniambo
ArcelorMittal shares fall 5% after the Kazakh government announced plans to take over the company’s operations in the country following its worst mining accident in recent history https://t.co/0Pqvu7uPsi
ArcelorMittal shares fall 5% after the Kazakh government announced plans to take over the company’s operations in the country following its worst mining accident in recent history https://t.co/mcsWU5yIZE
Glencore cuts 2023 nickel production guidance https://t.co/16Ex9xbr9Q https://t.co/6SO7Wijsin
⚠️ GLENCORE CUTS 2023 NICKEL PRODUCTION GUIDANCE Full Story → https://t.co/rC9QEFnPju https://t.co/Xhl7bkjCgK