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Strategies & Market Trends : Commodities - The Coming Bull Market -- Ignore unavailable to you. Want to Upgrade?

To: craig crawford who wrote (452)	7/6/2001 2:50:58 PM
From: craig crawford	Respond to of 1643

Wednesday July 4, 12:34 pm Eastern Time Zambia to ease financial burden on copper mines biz.yahoo.com By Allan Seccombe JOHANNESBURG, July 5 (Reuters) Zambia's government is preparing for a big revenue loss as it moves to lighten costs for foreign mining companies operating in its key copper industry, government officials said on Wednesday. ...................................................................................................................... Zambia was one of the world's top copper producers in the 1970s until the government nationalised the industry. Output slumped from a peak of more than 700,000 tonnes a year to around 300,000 tonnes in recent years. The mining companies operating in Zambia have committed themselves to large capital expenditure to rehabilitate the mines, smelters and refineries as well as on exploration programmes. ``We expect to see copper production go above 300,000 tonnes in the financial year of 2001/02 (March-April), and in three to five years we expect that to go up to around 400,000 tonnes and in six or seven years to 700,000 tonnes,'' Sweta said. However, David Armstrong, the resident manager of Mineral Resource Development International, told the conference he expected Zambia to produce 500,000 tonnes in the next five to 10 years.