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

To: Stephen O who wrote (1532)	12/28/2006 10:50:36 PM
From: TheSlowLane	Read Replies (1) \| Respond to of 2131

UPDATE 1-Zambia's Mopani shuts down Nkana mine after flooding Thu Dec 28, 2006 11:18 AM ET By Shapi Shacinda LUSAKA, Dec 28 (Reuters) - Copper production at a unit of Zambia's Mopani Copper Mines (MCM) has been halted due to flooding at an underground mine, officials said on Thursday. Production at Mopani's Nkana mine was cut earlier this month after the flooding began and was completely halted this week after the situation worsened, a senior Mopani official said. "There was a serious power surge, which damaged some water pumps which are used to pump out water from underground, leaving only one," a senior management official told Reuters on condition of anonymity. "The central shaft is now completely flooded and copper production has temporarily been suspended," the official said. It was unclear what impact the shutdown would have on production at Mopani, which said in February that it planned to produce 200,000 tonnes of finished copper in 2006 compared to 135,000 tonnes in 2005. The company, however, relocated 915 miners who worked at the Nkana's central shaft after the production disrupution, according to Jennifer Musonda, a provincial permanent secretary in Zambia's Copperbelt province who spoke to state media. Musonda said it had become difficult for Mopani to repair the damage caused by the flooding. "Unfortunately, they (Mopani) have failed to install the rehabilitated pumps and they will now try and get the pumps from Konkola Copper Mines (KCM)," Musonda said. Mopani, a consortium comprising Canada's First Quantum Minerals <FM.TO> and Swiss firm Glencore International AG, operates the Nkana and Mufulira copper and cobalt mines as well as the Mufulira smelter. The consortium is Zambia's second largest copper producer after KCM.