Zambia's Cobalt Production Down, Copper Up in 2005
Posted on: Wednesday, 8 February 2006, 09:00 CST
Zambia's cobalt production down, copper up in 2005
LUSAKA, Feb. 7 (Xinhua) -- Zambia, one of the world's largest cobalt and copper producer, saw its cobalt production declining while its copper outturn going up in the year 2005, statistics released Tuesday by the Bank of Zambia (BOZ) have shown.
According to BOZ figures, the country's cobalt production declined by 8.9 percent from 6,082 tons produced in 2004 to 5,539 tons produced last year.
"Cobalt output continued to be relatively low on account of smelter problems and continued suspension of processing of cobalt at some mines on account of dissatisfaction with most customer conditions," BOZ Governor Caleb Fundanga told journalists during a quarterly media briefing.
He added that declining prices also contributed to the declining cobalt output in the southern African country. According to BOZ figures, cobalt price was 11.70 U.S. dollars per pound at the end of last year compared to 21.77 dollars per pound at the end of 2004.
However, the country saw its copper production increasing by 7. 9 percent last year.
Figures show that copper production was recorded at 441,963 tons last year compared to 409,543 tons produced in 2004.
"The improvement in copper output was attributed to a number of measures taken by the affected mining companies to tackle the operational problems that were experienced during the year such as repairs to pumps to avoid floods and major repairs to the shaft and conveyor belts at some mines," Fundanga said.
He said prospect for copper mining in the country was showing a steady increase due to increased investment by new mining owners in new equipments.
This, he said, would lead to increased copper production in the country. Already, the Chamber of Mines has projected copper production to increase to around 800,000 tons per year by 2008 when more new mines start operating.
Source: Xinhua News Agency - CEIS
Related Articles
- U.S. Precious Metals Announces Proven Gold, Silver and Copper Reserves Found in Mexican Mining Concession; Road Construction Permits Granted
- Walter Industries, Inc. Announces Tuscaloosa Resources Has Committed Half of Its Calendar Year 2009 - 2011 Coal Production at $100 Per Short Ton FOB Mine
- African Copper Plc: The Revised Mowana Mine Production Schedule Provides for Outstanding Growth in the First Five Years
- Alberta Star Intersects 3.0 Meters of 0.39% Copper and 206.5 G/Ton Silver and 10.74 Meters of 0.72% Zinc From Exploration Drilling at the Eldorado IOCG &Amp; Uranium Project
- Central African Mining & Exploration Company Plc ('CAMEC' or 'the Company') Expands Copper Cathode Production in the DRC
- Phelps Dodge Conditionally Approves Tenke Fungurume Copper/Cobalt Mining Project in the Democratic Republic of the Congo
- Glamis Announces Commercial Production at Marlin Mine and Updates Mineral Resource Estimates at Cerro Blanco Project
- Zambia's Copper, Cobalt Productions Decline in First Half Year
- Tulsa-Based Alliance Resource Partners Resumes Coal Production at Illinois Mine
 |
 |
User Comments (0)
RSS Feeds