ANNUEL PROD.

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phili675

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Inscription: Mar 8 Sep 2009 08:03

Message Mar 14 Fév 2012 13:36

ANNUEL PROD.

/14/2012 | 05:57am
Vedanta Resources plc : UPDATE : Zambia 2011 Copper Output Up 2% On Year - Central Bank


--Cobalt output down 11% on year due to disruptions

--Further growth will depend on investment climate

--Mining companies due to start talks with government

(Adds industry official comments, details on cobalt production in paragraphs 6-12.)

Zambia's 2011 copper production rose 2% on the year after expansions at a number of projects in the country, the Central Bank of Zambia said late Monday.

The Bank of Zambia said in a report production rose to a record 869,058 metric tons, compared with 852,566 tons in 2010.

Zambia is Africa's top copper producer and its second-biggest cobalt producer after Congo.

Copper exports rose 5.6% to hit 875,555 tons from 829,726 tons, the bank said.

Production was initially hampered by above-normal rains early last year but rebounded in the second half after rains subsided.

However, cobalt output dropped 11% to reach 7,701 tons, on the year, mainly due to disruptions at major cobalt plants in the second half of the 2011. Major cobalt producers in Zambia were hit by power outages as well as strikes late last year, hampering production, according to trade officials.

Fredrick Bantubonse, the director of the country's Chamber of Mines, told Dow Jones Newswires separately that the growth witnessed in the copper mining sector in recent years has been down to investor friendly policies, which helped attract more foreign direct investments.

According to Bantubonse, further growth of the sector will depend on the "ability" of the recently elected government, under President Michael Sata, to maintain the investor confidence, left behind by the previous government.

"The new government has informed us that they want to negotiate new policies, and the outcome of these talks will determine the further of the sector," he said.

Sata's win in September last year marked the end of a two decade reign of the Movement For Multiparty Democracy party, widely credited for turning around the country's ailing copper mining sector, from the slump experienced during the 1970s and 80s.

Sata's government has already doubled the mining royalties to 6% from 3%, and has indicated a possible hike in the government's stakes in copper mines.

Vedanta Resources PLC (>> Vedanta Resources plc), Glencore International AG (>> Glencore International Plc), Vale (VALE), First Quantum Minerals Ltd. (FM.T) and China Nonferrous Metals Co. (8306.HK) are implementing expansion projects worth $6 billion that are expected to boost overall annual output to 2 million tons within five years.

Copper mining is the mainstay of the Zambian economy.
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jbd48

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Inscription: Mer 2 Sep 2009 08:11

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Message Mar 14 Fév 2012 13:48

Re: ANNUEL PROD.

On a pas moyen de se constituer un historique??
Cela doit exister probablement...
Ah c'qu'elle est courue, la pêche, la pêche, ah c'qu'elle est courue, la pêche à la morue.

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