Vedanta Q2 Copper Down
Vedanta Resources Pic, the India-focused metal group, saw its copper production fall in their second quarter.
Vedanta also said on Monday its expansion projects were progressing well, including a new aluminium smelter in India that is ramping up and a copper smelter in Zambia.
Vedanta shares, which have shed 65 percent since touching a peak in May, jumped 9.5 percent to 911 pence by 0715 GMT, outperforming a 6.2 percent increase in the UK mining index .
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Copper cathode output in India fell 11 percent to 81,000 tonnes due to problems following a maintenance shutdown in the first quarter while in Zambia it declined 7.5 percent to 37,000 tonnes due to lower grades.
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Tue, Oct 14, 2008
Post by Mike Rodger, Copper Reporter