Zambia Jan-Oct copper output rises - cbank
* Copper output at 573,405 T between Jan-Oct 2009
* Jan-Oct cobalt production at 3,537 T
(Adds details, background)
LUSAKA, Dec 22 - Copper output in Zambia, Africa's largest producer of the metal, rose to 573,405 tonnes between January and October this year, compared with 480,665 tonnes in the same period last year, the central bank said on Tuesday.
The Bank of Zambia said in a report that cobalt production dropped to 3,537 tonnes in the period compared with 3,902 tonnes during the first 10 months of 2008.
It said the southern African country exported 555,939 tonnes of copper to end-October, up from 463,281 tonnes exported in 2008, while cobalt exports were 3,934 tonnes compared with 3,848 tonnes.
Zambia has projected a slight rise in total copper output for 2009 to 664,000 tonnes, compared with previous estimates of 600,000 tonnes due to rising production in its mines.
The Treasury says there are prospects of a significant rise in both copper and cobalt output when London-listed Vedanta Resources Plc (VED.L) completes its $500 million Konkola Deep Mining Project (KDMP).
The project is expected to lift production at Konkola Copper Mines, a unit of Vedanta, to 500,000 tonnes per year in 2010 from the current average of 200,000 tonnes per year.
Foreign mining companies operating in Zambia include First Quantum Minerals FT.MO, Australia's Equinox Minerals (EQN.AX) and Swiss firm Glencore International [GLEN.UL]. (Reporting by Chris Mfula, editing by Anthony Barker)
© Copyright Thomson Reuters 2024. All rights reserved.