Friday, November 06, 2009

Chambishi Metals to resume operations

COMMENT - Bein Stein Group Resources is the Beny Steinmetz Group Resources.

Chambishi Metals to resume operations
By Staff Reporter
Fri 06 Nov. 2009, 04:00 CAT

Operations at Chambishi were suspended in December last year and placed on care and maintenance due to losses the company suffered owing to the global economic slowdown. Chambishi had forecast output at 3,400 tonnes of cobalt in 2009 from 2,500 tonnes in 2008 before it suspended operations.

Chambishi, which was previously owned by LCM, then a joint venture of Bein Stein Group Resources (BSGR) and International Mineral Resources (IMR), is now owned by Enya Holdings of the United Kingdom.

According to mining weekly, company chief executive Derek Webbstock said output was supposed to have started in October but was delayed awaiting the arrival of raw materials.

“We have received enough cobalt concentrates from Congo and we will start processing cobalt this week,” Webbstock said. “We initially expect about 300 workers to resume working and more will probably be engaged as production increases.”

Webbstock said the company would start processing copper concentrates after China Nonferrous Metals Mining Corporation (CNMC)’s unit, Luanshya Copper Mines (LCM), restarted output.

“The copper we processed before came from Luanshya and we can only talk about restarting the processing of copper after Luanshya starts production,” said Webbstock.

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