Commodities giant Glencore International said output across most of its commodity products rose in the third quarter and its marketing activity “remains solid” despite uncertainty in the financial markets, Dow Jones reported. Marketing and trading accounted for 39% of the group’s operating cash flow last year, with the balance coming from industrial activities.
On the production side, tin showed the biggest increase relative to last year. Third quarter output from its own sources increased by 9.1% for zinc, 33% for copper, and 22% for gold (including gold equivalents) compared with the same period a year ago. Lead output from its own sources was up 51%, tin climbed 67% and nickel was up 1.4% in the third quarter. Only cobalt was down 15%. The group’s tin production comes from its Sinchi Wayra subsidiary in Bolivia, which operates the Colquiri zinc-tin mine.
