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Glencore says power issues cut 2014 copper output at Katanga

Miner and commodity trader Glencore said power issues affected copperoutput at its Katanga asset in the Democratic Republic of Congo, defining its performance as “disappointing”.

The company’s head of copper, Telis Mistakidis, said in a meeting with investors that he expects this year’s copper output from Katanga to be 165,000 tonnes of copper cathode, down from a previously expected 210,000 tonnes.

Power outages are a major issue in the DRC.

Glencore produced about 1.5 million tonnes of copper last year. Most of its growth in copper, it’s largest earner, came from operations in Africa.

Source: Reuters

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