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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: craig crawford who wrote (301)	6/20/2001 9:24:55 PM
From: craig crawford	Read Replies (1) of 1643

Wednesday June 20, 5:10 pm Eastern Time Peru protesters block road over Antamina mine worry biz.yahoo.com LIMA, Peru, June 20 (Reuters) - Hundreds of local residents of a fishing village blocked Peru's main north-south highway with boulders on Wednesday in protest at environmental fears surrounding the major new Antamina copper and zinc mine. ...................................................................................................... The Antamina mine, owned by Billiton Plc (Toronto:BLT.TO - news), Noranda Inc (Toronto:NOR.TO - news), Teck Corp (Toronto:TEKb.TO - news) and Mitsubishi Corp , is expected to become Peru's biggest zinc producer and a major world supplier. It began test operations this month and is expected to become the world's seventh largest copper producer and third largest zinc producer. ....................................................................................................... When Antamina is fully operational by the first quarter of 2002, production is expected to reach a million tonnes of copper concentrates a year, 490,000 tonnes of zinc concentrates and 6,500 tonnes of molybdenum concentrates. Antamina will increase Peru's mining exports by 30 percent from the first year of operations, and is forecast to have a 20-year life. Peru is the world's fifth largest copper producer. It is also the world's No. 2 tin and silver producer, No. 3 zinc and lead producer and No. 8 gold producer. Peru's energy and mines ministry expects Antamina to boost the country's struggling $54 billion gross domestic product by 1.8 percent and to increase copper production by 35 percent and zinc by 50 percent. Copper is Peru's second biggest export product.

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