London-listed Glencore trimmed its spending budget to $6bn from the $6.5bn to $6.8bn it had previously guided upon, the company said in its first half production update.
It came as the trader shouldered a $790m writedown on oil assets in Chad in response to lower oil prices following what it called significant amendments to the work programme.
Glencore noted a 4% fall in coal production, a 3% dip in coper production, and a 12% drop in Zinc production.
Its oil entitlement production was up 68% due in part to the acquisition of Caracal, the report said.
The trader will report its half year accounts next week.
