Glencore books loss as coal prices fall

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Glencore’s annual profits have slipped to their lowest level in four years, as falling coal prices dented earnings at the Swiss miner and trading house.

The company reported a loss of $1.6bn in 2024, compared with net income of $4.3bn for the previous year. 

Glencore also announced a $2.2bn distribution to shareholders, up from $1.6bn last year. 

The miner expects copper production of between 850,000 and 910,000 tonnes this year, down 7 per cent at the midpoint from the previous year, according to company guidance.