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Gold/Mining/Energy : Copper - analysis

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To: LoneClone who wrote (1787)	4/30/2007 1:23:36 PM
From: Stephen O	of 2131

Glencore's Zambia Copper Mine Closed by Floods for Two Weeks 2007-04-30 09:56 (New York) By Geoffrey Kapembwa April 30 (Bloomberg) -- Glencore International AG's Mufulira copper mine in Zambia has been closed since April 15 because of underground flooding, said Dyson Muula, the district commissioner for the area of Mufulira. ``The shafts have remained flooded,'' he said in an interview from the town today. ``Management has failed to trace the source of this water.'' Attempts were made to extract the water from the mine after the initial flooding was caused by a pump failure, Muula said. The mine is owned by Mopani Copper Mines Plc, a venture between Glencore, First Quantum Minerals Ltd. and Zambia's state-owned ZCCM Investment Holdings Plc. Glencore's spokesman in Zambia, Passmore Hamukoma, didn't answer calls made to his mobile phone. Lotti Grenacher, a Glencore spokeswoman in Switzerland, wasn't immediately available for comment. --With reporting by Antony Sguazzin in Johannesburg and Chanyaporn Chanjaroen in London. Editor: Griffiths.

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