Metorex reports stable H1 copper output despite power outage

[LesCrozes]

Metorex reports stable H1 copper output despite power outages
By: Loni Prinsloo
20th July 2011

JOHANNESBURG (miningweekly.com) – JSE-listed Metorex on Wednesday reported slightly higher copper production from its operations in Zambia and the Democratic Republic of Congo (DRC) for the first six months to June.

Total copper output rose 1% to 26 562 t, from 26 358 t, while overall cobalt production dipped 6% to 1 890 t.

Despite power interruptions during May and June, the group’s flagship Ruashi mine in the DRC increased output to 16 548 t in the period, from 15 467 t in the comparable period of 2010.

Cobalt production at the mine was lower for the period at 1 886 t, compared with the 2 008 t of cobalt produced in the interim period last year.

Metorex noted that while operations at Chibuluma mine in Zambia continued to perform well, copper production was slightly lower at 8 783 t, compared with the same period last year when production stood at just over 9 000 t.

The company’s Sable mine, which is now in the process of being sold to Glencore, produced 1 232 t of copper and 1 890 t of cobalt for the six months ended June 30, 2011.

Chinese group Jinchaun was in the process of acquiring Metorex in a deal valued at R9.1-billion.