Key facts: Glencore secures A$600M support; shares rise 1.2%; copper output down 27%
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- Glencore secured a A$600 million support package from the Australian federal and Queensland governments to sustain operations at its Mount Isa smelter and Townsville refinery for three years.1
- Glencore's shares increased by 1.2% during the opening trade of the FTSE 100, driven by heightened investor interest in copper, which is expected to play a crucial role in the metals market.2
- Copper production at the Collahuasi mine, jointly operated by Glencore and Anglo American, decreased by 27% in August, resulting in an output of 35,400 tons due to lower-grade ore.3