JOHANNESBURG (miningweekly.com) – Diversified miner GlencoreXstrata will list on the main board of the JSE on November 13 after the JSE approved its application for a secondary listing.
The listing would be an inward foreign listing and GlencoreXstrata will retain its primary listing on the LSE, as well as its secondary listing on the Hong Kong Stock Exchange.
Meanwhile, the diversified miner on Thursday reported a 34% year-on-year rise in own source copper metal output to 412 900 t for the third quarter of the year. This was mainly owing to a 30% rise in copper metal output at the mining major’s newly consolidated African copper operations.
Copper output from the continent increased from 80 900 t in the third quarter of 2012 to 105 200 t in the quarter under review, reflecting strong growth at the Democratic Republic of the Congo-based Katanga and Mutanda mines.
The group’s South American operations lifted own source copper metal output 10% quarter-on-quarter to 22 500 t, compared with 20 400 t in the prior comparative period.
COAL ASSETS
The miner’s newly consolidated coal assets produced a total of 36.8-million tonnes of own source coal in the three months ended September 30, a 9% increase year-on-year.
Australian coking coal production decreased 6% to 1.6-million tonnes, while export thermal coal output increased 16% to 13.7-million tonnes and domestic thermal coal output fell by 19% to 1.3-million tonnes.
South African export thermal coal and domestic thermal coal production fell by 2% each year-on-year to 5.3-million tonnes and 6.1-million tonnes respectively in the third quarter.
In South America, output at GlencoreXstrata’s Colombia-based Prodeco operation increased by 48% year-on-year to 4.6-million tonnes, while production at the Cerrejón mine rose 14% year-on-year to 3.2-million tonnes in the quarter under review.