Glencore Makes Drastic Downward Revision of Production Goal

摘要

On July 31, Glencore plc made it clear that the Company lowered the goal for its coal production volume in 2020 to 114 million tons (+/-3 million tons). Since the existing goal for the coal production volume was 132 million tons (+/-3 million tons), the numerical number was down by as much as 18 million tons. The reason why Glencore made a drastic downward revision of the goal for the coal production volume was because the coal production in the period from April to June in 2020 decreased to a large extent due to a new-type corona virus (COVID-19). In fact, the coal production volume during April to June stayed at 26.2 million tons and dipped below the actual achievement in the year-earlier period by 8.8 million tons (25.1%).