May 28, 2020 / 8:27 AM / a month ago

BRIEF-Glencore Defers Distribution Decision To Q3 2020

May 28 (Reuters) - Glencore PLC:

* GLENCORE - SEES 2020 COPPER PRODUCTION 1,255 ± 45 KT

* GLENCORE - SEES 2020 COAL PRODUCTION 132 ± 3 MT

* GLENCORE - SEES 2020 COBALT PRODUCTION 28 ± 2 KT

* GLENCORE - DEFERRAL OF DISTRIBUTION DECISION TO Q3 2020

* GLENCORE - SEES 2020 ZINC PRODUCTION 1,160 ± 30 KT

* GLENCORE - SEES 2020 NICKEL PRODUCTION 122 ± 5 KT

* GLENCORE - PLANNED $1 TO $1.5BN REDUCTION (FROM $5.5BN) FROM ASSET CURTAILMENTS AND ASSOCIATED CAPEX SAVINGS

* GLENCORE - SEES 2020 FERROCHROME PRODUCTION 1,000 ± 25 KT

* GLENCORE - REFINANCING AND EXTENSION OF REVOLVING CREDIT FACILITIES ON THE SAME COMMERCIAL TERMS AS LAST YEAR

* GLENCORE - 2020 OIL GUIDANCE UNDER REVIEW

* GLENCORE - FULL IMPACT OF DEMAND SHOCK BEEN TEMPERED BY COVID-19 RELATED SUPPLY DISRUPTIONS/REDUCTIONS TO DATE

* GLENCORE-LOW ABOVE GROUND INVENTORIES AT START OF YEAR SHOULD HELP LIMIT EXTENT OF POTENTIAL INVENTORY BUILD LIKELY TO BE SEEN IN COPPER, ZINC, NICKEL

* GLENCORE - MAJORITY OF CO’S INDUSTRIAL ASSETS CONTINUE TO OPERATE RELATIVELY NORMALLY

* GLENCORE - NUMBER OF OPERATIONS HAVE BEEN TEMPORARILY SUSPENDED, WHERE NATIONAL/REGIONAL LOCKDOWNS OR OTHER CIRCUMSTANCES HAVE REQUIRED Source text for Eikon: Further company coverage:

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