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Gold/Mining/Energy : Copper - analysis -- Ignore unavailable to you. Want to Upgrade?

To: Stephen O who wrote (1213)	5/27/2005 10:00:35 AM
From: Stephen O	Read Replies (1) \| Respond to of 2131

BHP Billiton Says `No Interruptions' of Tintaya Copper Supply 2005-05-27 07:48 (New York) By Chanyaporn Chanjaroen May 27 (Bloomberg) -- BHP Billiton, the world's largest miner, said it expects ``at this stage no interruptions'' on copper concentrate supply to customers from its Tintaya mine in Peru after protests shut the mine May 24. ``Operations remain curtailed with only essential stuff and security personnel at the site,'' Mark Lidiard, a BHP Billiton spokesman, said today in an e-mailed response to questions from Bloomberg. He didn't say how long the concentrate inventory at the mine will last. Tintaya can produce 120,000 metric tons of copper each year, about 0.8 percent of global output. In the nine months to March 2005, Tintaya produced 57,000 tons of copper metal contained in concentrate and 28,000 tons of copper cathodes, according to BHP Billiton. Protesters stormed into the mine site on May 24, demanding higher contributions from the miner to local communities, according to BHP Billiton, who said it allocates 3 percent of its pretax profit, or a minimum of $1.5 million a year, to social investment in the area. Government representatives have been in discussions with community representatives and BHP Billiton officials met with the government in Lima yesterday, Lidiard said. Copper futures for delivery in three months on the London Metal Exchange fell $3, or 0.1 percent, at $3,085 a ton as of 12:32 p.m. in London. The Tintaya shutdown ``should keep copper relatively steady,'' Edward Meir, an analyst at Man Financial in Darien, Connecticut, said today in a report. --Editors: A. Brown