Glencore Release Production Report to 31 December 2017

Glencore’s oil entitlement interest of 5.1 million barrels was 1.4 million barrels (19%) lower than in 2016, reflecting expected reductions in a period of inactive field development in a low price environment. Drilling in Chad recommenced in H2 2017 with a single-rig campaign, which is expected to offset natural field declines in Equatorial Guinea.

    Glencore’s resources and reserves report, published today, discloses meaningful proved and probable reserves increases including:
Sudbury mines (INO) increased nickel reserves by 14 million tonnes of ore (48%), mainly reflecting the addition of the Onaping Depth deposit; Kazzinc added 8 million tonnes (9%) zinc ore, including conversion of the Dolinnoe mine from resource; Katanga added 13 million tonnes (10%) of copper ore, mainly reflecting the KITD project, currently reclaiming metal previously discharged to tailings. Source / Further information : Glencore oilandgasOil and Gas News Undiluted !!! “The squeaky wheel gets the oil” Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook]]>