Message Ven 31 Juil 2009 10:23

Q1 2009 Vedanta

Copper – Zambia Business
During Q1, KCM produced 43,000 tonnes of copper cathodes (including 23,000 tonnes from the new Nchanga smelter), significantly higher than the production of 36,000 tonnes in the corresponding prior quarter. Production benefited from the ramp up of the new Nchanga smelter and a 55% increase in production from the tailings leach plant to 14,000 tonnes.
In Q1, mine output from our Zambian mines was around 19,000 tonnes, 9.5% lower than the corresponding prior quarter primarily on account of grid failures and lower equipment availability at Konkola.
The new Nchanga smelter is experiencing some teething problems. The operating team is working in consultation with the technology provider to attain full production, post a planned shutdown scheduled in September 2009.
EBITDA in Q1 was $31.8 million compared with $71.1 million in the corresponding prior quarter. The decrease in profitability was primarily due to the sharp decline in LME copper prices averaging $4,676 per tonne in Q1, down 45% compared with the corresponding prior quarter, which more than offset the benefits of lower operating costs compared with the corresponding prior quarter.
The new production and service shaft has crossed a depth of 1,000 metres compared with the depth of 1150 metres required to create the mid shaft loading arrangement. We expect mid-shaft commissioning by end FY2010.
Fichiers joints
q1 2009 production ved.pdf
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