Zambian copper output drops 14% in April
Zambia's April 2007 copper output fell 14.3% compared with the corresponding period a year ago, the country's central bank said in a report Thursday.
According to the banks fortnightly statistics report on mineral production and exports, preliminary data indicates copper output in April totaled 38,047 metric tons, compared with 44,393 tons produced in April 2006.
According to the report, copper exports in April fell 24.7% to 26,887 tons compared with 35,689 tons exported in April last year.
April copper output was down 5.3% from the 40,172 tons produced in March.
Cobalt output in April fell 9.4% to 355 tons from 392 tons in April 2006, while exports were unchanged at 347 tons, the report said.
According to an official with Zambia's Chamber of Mines, the drop in copper output is due to heavy rains which flooded open pit mines. Lower grade ores are also another factor for reduced output because they lead to lower copper cathode production.
In April, Mopani Copper Mines' Mufulira mine had its most productive shaft flooded for around three weeks which disrupted output. The shaft produces up to 40% of the mines' daily copper ores.
Other disrupting factors include the closure of Nkana Smelter belonging to the country's leading copper producer, Konkola Copper Mines in April in which the company said it lost up to 4,000 tons due to partial output.
The official said mining companies have overcome most of the disruptions and copper output is set to rebound especially in the second half of 2007 and enable the country achieve its 2007 copper output target.
Zambia's 2007 copper output is seen at 600,000 tons compared with 492,000 tons produced in 2006. The country is Africa's leading copper producer and exports nearly all its copper output in copper bars mainly to the European Union, U.S. and Asian markets. |
