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Freeport-McMoRan Inc. Message Board

  • bd_jwt bd_jwt Feb 5, 2008 1:55 AM Flag

    Jiangxi Copper mine is down. Good for FCX?

    Jiangxi Copper says rainstorms hit production

    HONG KONG, Feb 5 (Reuters) - Jiangxi Copper Co Ltd (0358.HK: Quote, Profile, Research) (600362.SS: Quote, Profile, Research) said rainstorms in the southern part of China have had a significant impact on production, affecting production volumes in the quarter.

    "Apart from Yongping copper mine, the whole or at least half of the production activities of the copper mines of the company in Jiangxi Province have ceased," the company said in a statement late on Monday.

    China's top integrated copper producer said its copper smelting factory could only maintain 60 to 70 percent of production levels while other copper processing enterprises are operating under limited production conditions.

    Jiangxi Copper said production is expected to return to normal levels with an improvement in electricity supply and transportation. The company accounted for 16 percent of China's refined copper production in 2007.
    http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSHKG30876120080204




    * Shares of Jiangxi Copper Co Ltd (0358.HK: Quote, Profile, Research) fell 3.8 percent to HK$15.32 after China's top integrated copper producer said rainstorms in southern China had a material impact on production, and the whole or at least half of the production activities of its copper mines in Jiangxi Province had ceased. Its copper smelting factory could only maintain a 60 to 70 percent level of production. [ID:nHKG308761]

 
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