Brazil's Vale starts copper production at Zambia mine

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ggaultie

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Message Ven 12 Oct 2012 09:52

Brazil's Vale starts copper production at Zambia mine

Brazil's Vale starts copper production at Zambia mine
Fri Oct 12, 2012
RIO DE JANEIRO (Reuters) - Brazil's Vale SA said it has begun producing copper concentrate at its Lubambe mine in Zambia.

Production at the mine, which began on October 4, is expected to lead to an annual output of 45,000 tonnes of concentrate, the company said in a securities filing on Thursday. Copper concentrate is a raw version of commercial copper that is later refined by smelters.

Vale's efforts to increase copper production are part of a strategy by the company, the world's largest producer of iron ore, to diversify into other commodities.

In addition to copper, Vale in recent years has pushed into coal and fertilizer production. After increased efforts in nickel mining, the company this year expects to overtake Russia's Norilsk Nickel as the world's biggest producer of nickel.

Still, iron ore at present accounts for about 90 percent of Vale's profits and nearly three-quarters of its revenues.

The Lubambe mine is a joint venture with African Rainbow Minerals Ltd. and Zambia Consolidated Copper Mines Ltd., the statement added.
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Message Sam 13 Oct 2012 08:41

et pour rappel

Vale (NYSE:VALE) has begun copper production at its Lubambe mine in Zambia. Production began on October 4 and it is expected that the mine will have an annual output of 45,000 metric tonnes of copper concentrate. Copper concentrate serves as the raw material for smelters which refine it to produce commercial-grade copper.

The company has, of late, been investing in mining of metals and minerals other than iron ore. Iron ore prices have been very low for quite sometime now, and investing in copper mining is a part of the broader diversification strategy being pursued to reduce exposure to iron ore, which still accounts for about 90% of Vale’s profits and nearly 75% of its revenues. [1]


The Lubambe mine is a part of Vale’s Konkola North Project, that also includes a plant and related infrastructure. Vale has a 50-50 joint venture with African Rainbow Minerals Limited. African Rainbow Minerals Limited has an 80% stake in the operation, while the remaining 20% stake is held by Zambia Consolidated Copper Mines Limited. At end of Q2 2012, Vale was expecting to incur a total capital expenditure of $235 million on the project

Retourner vers About Lubambe (ex Konnoco) - Vale / ARM

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