Glencore sets cap on its coal production

Swiss commodity trader Glencore aims to limit its coal production to "current levels" in a part of its climate change mitigation efforts – a decision that could raise the price of thermal coal, a Wood Mackenzie analyst assesses.

Photo: ritzau/Arkiv/Niels Hougaard

As a part of its climate change mitigation efforts and in order to "deliver a strong investment case to our shareholders", Glencore has decided to maintain its coal production at current levels, the Swiss commodity trader announces in a press statement.

"To meet the growing needs of a lower carbon economy, Glencore aims to prioritize its capital investment to grow production of commodities essential to the energy and mobility transition and to limit its coal production capacity broadly to current levels," the company writes.

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