Vedanta 1Q Aluminum, Iron Output Up; Zinc, Copper Mixed-Shanghai Metals Market

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Vedanta 1Q Aluminum, Iron Output Up; Zinc, Copper Mixed

Industry News 02:55:27PM Jul 30, 2010 Source:SMM

LONDON, July 30 -- London-listed miner Vedanta Resources PLC (VED.LN) Friday said it produced more aluminum and iron ore in the company's fiscal first quarter, but delivered mixed results at its zinc and copper operations.

Vedanta said it achieved record first quarter earnings before interest, tax, depreciation and amortization, or Ebitda, of $794 million due to higher prices and greater output of some metals.

Copper cathode output at its subsidiary Konkola Copper Mines in Zambia rose 27.9% on the year to 55,000 metric tons. Integrated output there fell 11% to 34,000 tons, but mined metal output rose by 26% to 24,000 tons.

Copper cathode output at its Tuticorin smelter was 77,000 tons, down 1.3% on the year, while mined copper output at its Australian operations was flat at 7,000 tons.

Aluminum output increased by 13% on the year to 141,000 tons. The company's Jharsuguda smelter finished commissioning during the quarter and contributed to the increase, though its output was affected by a power failure.

Alumina output at the Lanjigarh refinery rose 8.5% to 204,000 tons.

The company said that refined zinc output increased by 18.7% on the year to 165,000 tons, while mined metal output was 0.5% higher at 182,000 tons. Its refined lead output declined by 16.7% on the year to 15,000 tons.

Production and sales of iron ore rose 30.6% and 15% on the year to 6.4 million tons and 5.4 million tons respectively.

The company sold 1,156 million units of power, up 98% on the year.

Vedanta's shares closed Thursday at 2,479p.

 

 
 

Key Words:  Aluminum Al  copper Cu  iron ore  zinc Zn 

Vedanta 1Q Aluminum, Iron Output Up; Zinc, Copper Mixed

Industry News 02:55:27PM Jul 30, 2010 Source:SMM

LONDON, July 30 -- London-listed miner Vedanta Resources PLC (VED.LN) Friday said it produced more aluminum and iron ore in the company's fiscal first quarter, but delivered mixed results at its zinc and copper operations.

Vedanta said it achieved record first quarter earnings before interest, tax, depreciation and amortization, or Ebitda, of $794 million due to higher prices and greater output of some metals.

Copper cathode output at its subsidiary Konkola Copper Mines in Zambia rose 27.9% on the year to 55,000 metric tons. Integrated output there fell 11% to 34,000 tons, but mined metal output rose by 26% to 24,000 tons.

Copper cathode output at its Tuticorin smelter was 77,000 tons, down 1.3% on the year, while mined copper output at its Australian operations was flat at 7,000 tons.

Aluminum output increased by 13% on the year to 141,000 tons. The company's Jharsuguda smelter finished commissioning during the quarter and contributed to the increase, though its output was affected by a power failure.

Alumina output at the Lanjigarh refinery rose 8.5% to 204,000 tons.

The company said that refined zinc output increased by 18.7% on the year to 165,000 tons, while mined metal output was 0.5% higher at 182,000 tons. Its refined lead output declined by 16.7% on the year to 15,000 tons.

Production and sales of iron ore rose 30.6% and 15% on the year to 6.4 million tons and 5.4 million tons respectively.

The company sold 1,156 million units of power, up 98% on the year.

Vedanta's shares closed Thursday at 2,479p.

 

 
 

Key Words:  Aluminum Al  copper Cu  iron ore  zinc Zn