Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Glencore PLC    GLEN   JE00B4T3BW64

Delayed Quote. Delayed  - 05/27 05:35:13 pm
134.3 GBp   -1.21%
05/26 FTSE steadies at close after climbing to one-month high
05/26 GLENCORE : Meet Glencore, rapacious global lord
05/25 PRESS : BHP Billiton And Others In Race For Anglo American Coal Mine..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Glencore International Plc : Zambia Mopani Copper Mines To Complete Smelter Upgrades In Dec

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/22/2013 | 12:48pm CEST

By Nicholas Bariyo

Special to

Zambia's third largest copper and cobalt producer said Friday it will complete upgrades at its Mufulira Copper Smelter in December 2013, 18 months ahead of schedule as the miner steps up efforts to boost production and minimize pollution.

The completion of the $114 million upgrade at the smelter will help the company to start manufacturing acid from sulphur dioxide emissions and ease the fractious relationship with the country's authorities over pollution. Mopani is a unit of U.K.-listed Glencore International AG (GLEN.LN)

"This project is in its third and final phase and is expected to be completed ... 18 months earlier than initially agreed with the government," the company said in an emailed statement.

The Mufulira smelter treats at least 800,000 metric tons of copper concentrates from the company's mines in the Copperbelt province as well as third party concentrates from a number of other miners operating in Africa's largest copper producing nation, which is struggling under the burden on inadequate copper treatment facilities.

In April last year, the state-run Zambia Environmental Management Agency ordered the closure of Mopani's leach plant at Mufulira for nearly three weeks after it polluted the environment. Company officials said the company was losing around $100,000 a day during the closure.

opani has invested around $2 billion into its Zambian assets, breathing a new life into the ailing facilities that were on the verge of collapsing in the early 2000s, amid low global copper prices.

Other expansion projects in Zambia include the Synclinorium Shaft at Nkana mine, which will extend the life of the mine by 25 years and safeguard about 3,000 jobs. Currently, the company has the capacity to produce around 200,000 tons of finished copper a year.

Write to Nicholas Bariyo at nicholas.bariyo@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on GLENCORE PLC
05/26 FTSE steadies at close after climbing to one-month high
05/26 GLENCORE : Meet Glencore, rapacious global lord
05/25 PRESS : BHP Billiton And Others In Race For Anglo American Coal Mines
05/23 FTSE ends lower as commodities stocks slip
05/20 COCA COLA HBC : leads FTSE share index higher
05/20DJBLACKROCK : Taps Canadian Fund's Chief -- WSJ
05/19DJBLACKROCK : Canadian Pension Fund Chief to Join BlackRock -- 2nd Update
05/19DJEUROPE MARKETS : European Stocks Slump After Hawkish Fed Opens Up For June Rate ..
05/19DJBLACKROCK : Canadian Pension Fund Chief to Join BlackRock -- Update
05/19DJCanadian Pension Fund Chief to Join BlackRock
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials