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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (3247)	1/2/2001 10:29:39 AM
From: lorne	Read Replies (1) \| Respond to of 8010

Singapore (Platts)--29Dec2000 China's Luyin Investment Group in Shangdong province has reduced its silver production on the back of low grade ore at its new Rongcheng silver-gold mine, a company official said Friday. "We had planned to raise target output for silver concentrate this year to 3-5mt, after we started mining two new deposits at Rongcheng in June. But the ore grade has been much lower than expected, so we had to shut down one of the deposits for further study and reduce output at the other," he added. As a result, the company now expects to only maintain silver output at 1999's level of 1.5mt. The new deposits at Rongcheng were originally expected to have raised Luyin's ore handling capacity to 180-200mt/day, "but we have only managed 40-50mt/day since June," the official said. Luyin started operations in 1998. platts.com