Kazakhmys:2010 copper output forecast

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Fri, Jan 29, 2010
Copper Company News
Post by Mike Rodger, Copper Reporter

On Friday, Kazakh copper producer Kazakhmys (KAZ.L) reported no output growth this year after shutting mines to save cash in 2009 and seeing fourth-quarter production slide by 25 percent.

The press release is quoted as saying:

Investors will have to wait until at least 2011 for the company’s growth projects to lift output. It sealed a deal last year for $2.7 billion in financing for expansion projects. [ID:nLDE5BT0RN]. The London-listed company said in a production report on Thursday it slightly exceeded its 2009 output target of 315,000 tonnes of copper cathode, coming in with 320,400 tonnes, but this was a 6.6 percent fall from the previous year.

Click here to access the entire press release

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