Maravi

Copper cathodes production up 30% - BoZ

Copper cathodes production up 30% - BoZ
Written by Chiwoyu Sinyangwe
Tuesday, June 09, 2009 8:53:43 PM

BANK of Zambia (BoZ) has announced that the country’s production for copper cathodes rose by 30 per cent in April compared to the same period last year.
According to the latest BoZ fortnight statistics, the country’s copper output jumped to 50,407 metric tonnes during the month from 38,697 tonnes a year earlier.

The Central Bank also stated that copper exports rose to 51,550 tonnes during the month under review from 30,859 tonnes last year.

BoZ however reported that the country’s cobalt production dropped by 24 per cent to 296 tonnes, while exports of the metal declined to 301 tonnes in April from 407 tonnes a year earlier.

And First Quantum Minerals Limited (FQML) has announced its financial results for the first quarter of this year, posting first quarter net income of US$10.9 million (about US$0.16 per share) compared to US$182.0 million (about US$2.65 per share) gained in the same quarter last year.

FQM also announced that net sales for the period were US$268.2 million, compared to US$511.5 million in the same period last year.

FQM which operates in the country mainly through Kansanshi Copper Mines in Solwezi stated that it still forecasts production of copper to reach 380,000 tonnes and 240,000 ounces of gold this year.

Labels: BOZ, COPPER, FIRST QUANTUM MINING

posted by MrK @ 7:56 PM