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

To: jimsioi who wrote (1541)	1/4/2007 12:05:33 PM
From: Stephen O	Read Replies (1) \| Respond to of 2131

Collahuasi Says Repairs to Cut Output by 30,000 Tons 2007-01-04 09:06 (New York) By Heather Walsh Jan. 4 (Bloomberg) -- Dona Ines de Collahuasi, Chile's fourth-largest copper mine, said equipment repairs will reduce its production of the metal by about 30,000 metric tons. Output will fall as Collahuasi this month begins replacing part of a motor used to run a mill that grinds rocks at the mine, the mine's management said today in a statement sent by e- mail in Santiago. The lost production is equivalent to 7 percent of the mine's 2005 output of 427,000 tons. Copper prices have plunged this year on speculation that supplies will rise as demand weakens in the U.S., the second- largest user of the metal. Last year, disruptions at copper mines in Chile, Mexico and Indonesia due to labor unrest and accidents helped fuel a 41 percent jump in prices. Copper futures for March delivery fell 7.40 cents, or 2.8 percent, to $2.5750 a pound at 9:05 a.m. New York time on the Comex division of the New York Mercantile Exchange. Prices dropped 7.7 percent yesterday. Collahuasi will begin replacing the equipment on Jan. 15, cutting processing capacity for about 65 days, according to the statement. Collahuasi Chief Executive Thomas Keller said in November that lost output due to repairs could total 30,000 tons. Falconbridge Ltd., which was purchased last year by Xstrata Plc, and Anglo American Plc each hold a 44 percent stake in Collahuasi. --Editor: Brice.