Kazakhmys:2010 copper output forecast
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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Fri, Jan 29, 2010
Post by Mike Rodger, Copper Reporter