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DJ Equinox Minerals Seeks Geographical Diversity Through M&
Posted on: Thu, 08 Apr 2010 13:09:03 EDT
Symbols: EQNMF
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SANTIAGO, Apr 08, 2010 (Dow Jones Commodities News via Comtex) --
Equinox Minerals Ltd. (EQN.T, EQN.AU) is looking for merger-and-acquisition opportunities that give it geographical diversification away from Zambia, the company's chief executive said Thursday.
"Chile wouldn't be a bad place to be," Craig Williams told the CRU copper conference in Santiago.
Equinox operates the Lumwana mine in Zambia's northwestern province, where it is focused on ramping up production. The mine started commercial copper production in April 2009, with 2010 output slated at 135,000 metric tons at a cash cost of around $1.35 a pound, Williams said.
Zambia is the world's sixth-largest copper producer with output of over 700,000 tons expected this year.
Lumwana and Kansanshi Copper Mines, owned by Toronto-listed First Quantum Minerals Ltd. (FM.T), account for more than 50% of Zambian copper output.
-By Andrea Hotter, Dow Jones Newswires; +44 (0)20 7842 9413; andrea.hotter@dowjones.com
(END) Dow Jones Newswires