Xstrata moving copper at Argentina's Alumbrera
Wed Apr 18, 2007 9:51am ET28
yahoo.reuters.com
SANTIAGO, April 18 (Reuters) - London-listed Xstrata (XTA.L: Quote, Profile , Research) said on Wednesday a contingency plan was allowing it to move copper concentrates from its Bajo de Alumbrera copper mine in Argentina after a flood affected rail transport.
Xstrata declared force majeure on two shipments from the mine last week after a railway line used to transport the concentrates to the Rosario port in central Argentina was flooded.
Xstrata did not indicate the size of the shipments, but a company spokeswoman in Chile said on Wednesday that a plan to transport the concentrate using rail and then trucks was helping to move some of the copper.
"They've unloaded the first train," the spokeswoman said.
She also said the company expected copper transports to resume normal flow on April 21, when line operator Nuevo Central Argentina has said service will be restored.
Alumbrera has production capacity of 190,000 tonnes per year of copper concentrate and 550,000 ounces of gold. The tonnage affected by flooding was not specified.
Xstrata owns 50 percent of the Alumbrera mine, while Northern Orion Resources (NNO.TO: Quote, Profile , Research) and Goldcorp (G.TO: Quote, Profile , Research) hold the rest. |
