Anglo American may delay Bronces expansion due crisis-paper
Fri Dec 12, 2008 7:39am EST
reuters.com
SANTIAGO, Dec 12 (Reuters) - Anglo American Chile's Los Bronces copper division expansion project could be delayed by several months due to the global financial crisis, the firm's chief executive was on Friday quoted as saying.
However, Miguel Angel Duran, CEO of the local unit of Anglo American Plc (AAL.L: Quote, Profile, Research, Stock Buzz), said the planned $1.74 billion earmarked for the expansion would not be affected, financial daily Diario Financiero reported.
"The rhythm at which it (the expansion) will be carried out is being revised," the paper quoted Duran as saying. "The original date to get it going was Jan. 1, 2011 and that is what could eventually face some delay."
The company's Los Bronces division produced 117,246 tonnes during the first half of 2008, up 4.0 percent year-on-year, to 319,403 tonnes of fine copper.
Its Collahuasi joint venture with Xstrata Copper (XTA.L: Quote, Profile, Research, Stock Buzz) produced 98,471 tonnes during the period, up 18 percent from the first half of 2007. |
