Glencore Charts Aggressive Copper Expansion Through 2035

Glencore Plc (GLEN.L) has revealed an ambitious copper growth blueprint at its 2025 Capital Markets Day, signaling a major shift in production strategy. The mining giant intends to elevate annual copper output to approximately 1 million tons by 2028, with aspirations to nearly double that figure to 1.6 million tons within the subsequent seven years.

The company’s copper futures symbol GLEN.L has responded positively to these announcements, reflecting investor confidence in the strategic pivot. The stock climbed GBP 20.88 to reach GBP 381.23 on the London Stock Exchange, marking a 5.79 percent gain as traders digest the expansion plans.

Breaking down the production roadmap, Glencore projects a 4 percent annual growth rate in copper-equivalent output spanning 2026 through 2029. More impressively, pure copper production is expected to surge at roughly 9.4 percent annually during this period, demonstrating management’s commitment to privileging this critical commodity amid global energy transition demands.

A cornerstone of this strategy involves reactivating the Alumbrera operation in Argentina, one of South America’s significant copper assets. The company has targeted 2028 as the operational launch year, aligning this mine restart with its broader capacity expansion agenda. This move reflects confidence in both the copper market outlook and Glencore’s operational capabilities in the region.

These disclosures position Glencore to capitalize on sustained copper demand driven by renewable energy infrastructure and electrification trends, with the phased production increases providing a credible execution framework through mid-decade and beyond.