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Vedanta Resources’ Q4 copper production rises19%

Vedanta Resources’ Q4 copper production rises19%
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First Published: Wed, Apr 11 2007. 03 49 PM IST
Updated: Wed, Apr 11 2007. 03 49 PM IST
Brett Foley/ Bloomberg
Vedanta Resources Plc, India’s largest copper producer, produced 19% more of the metal in its fiscal fourth quarter. Refined zinc output gained 3.3%.
Production of finished copper plates, called cathodes, from plants in India, Australia and Zambia rose to 89,000 metric tonnes in the three months ended 31 March, from 75,000 tons a year earlier, London-based Vedanta said today in a statement. Zinc output increased to 95,000 tonnes, from 92,000 tonnes.
Vedanta is among mining companies that have boosted capacity to cope with booming demand for industrial metals in China, the world’s fastest growing economy and biggest consumer of copper, zinc and nickel.
Copper cathode production for the year ended 31March rose 15% to 313,000 tons. Zinc output gained 23% to 348,000 tons. Aluminum output jumped 67% to 351,000 tons after production capacity was increased at Vedanta’s Korba smelter, the company said.
Shares of Vedanta fell 22 pence, or 1.5%, to 1,410 pence as of 9:53 a.m. in London. The stock has fallen 6.7% in the past year.
The 6,000 tons of copper produced from Vedanta’s Australian mines in the three months to 31 March was lower than in the same period last year after a rock fall disrupted operations for two weeks, the company said.
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First Published: Wed, Apr 11 2007. 03 49 PM IST