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Gold/Mining/Energy : Copper - analysis
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From: LoneClone4/16/2007 10:34:04 AM
   of 2131
 
Copper miners intensify operations in Zambia to meet '07 production targets

Source: Hoovers

Zambia's copper producing companies are expected to recover from a number of operational disruptions experienced during the first quarter 2007 and meet the country's 2007 production target of 600,000 metric tons of copper, a leading industry official said Monday.

Zambian copper miners experienced a number of operational disruptions during the quarter, including flooding and truncated coal supply.

Despite last week's central bank prediction of a 9.2% fall in first quarter production, mines are expected to recover as it is still very early in the year, he said.

Zambia's copper mining companies continue to intensify operations spurred by increased global demand. Companies like First Quantum Minerals Ltd. (FM.T) continue to hike output ever since the commissioning of its new copper mine at Kanshashi in the north west.

First Quantum has now overtaken Mopani Copper Mines as the country's second leading coper producer, yielding up to 179,069 tons in 2006, according to Kwalela Lamaswala, managing director of the company's operations in Zambia.

Zambia's annual copper output is expected to reach up to 1 million tons by 2011 given the current level of investments in the sector, according to the Chamber of Mines.
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