UPDATE 1-Collahuasi Says Output Normal Despite Port Stoppage-Shanghai Metals Market

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UPDATE 1-Collahuasi Says Output Normal Despite Port Stoppage

Industry News 09:31:09AM Dec 28, 2010 Source:SMM

SANTIAGO, Dec 27 (Reuters) - Chile's Collahuasi copper mine is producing normally, it said on Monday, despite a stoppage at its key port that has halted deliveries and risks filling up all the storage space at the world's No. 3 copper deposit.

The stoppage may hurt output if Collahuasi runs out of room to store its output, mine executives have said. Collahuasi continues to seek alternative ports to resume shipments after a Dec. 18 shiploader accident that shut its Patache port terminal.

Miner Anglo American's head of Chile operations, Miguel Angel Duran, said last week the Patache terminal could be down for " a couple of months," but he remained hopeful output would not be disrupted.

Anglo American (AAL.L) and Xstrata (XTA.L) are joint owners of the deposit, which a week ago declared force majeure on copper concentrate sales -- a clause that frees the mine of liability with clients for delays in deliveries.

The export stoppage fanned global supply fears, helping copper hit new records last week.

Copper prices in Shanghai SCFc3 closed off early lows on Monday on a positive outlook for the metal, which is widely used in applications including water pipes, cars and power lines.
 


 

UPDATE 1-Collahuasi Says Output Normal Despite Port Stoppage

Industry News 09:31:09AM Dec 28, 2010 Source:SMM

SANTIAGO, Dec 27 (Reuters) - Chile's Collahuasi copper mine is producing normally, it said on Monday, despite a stoppage at its key port that has halted deliveries and risks filling up all the storage space at the world's No. 3 copper deposit.

The stoppage may hurt output if Collahuasi runs out of room to store its output, mine executives have said. Collahuasi continues to seek alternative ports to resume shipments after a Dec. 18 shiploader accident that shut its Patache port terminal.

Miner Anglo American's head of Chile operations, Miguel Angel Duran, said last week the Patache terminal could be down for " a couple of months," but he remained hopeful output would not be disrupted.

Anglo American (AAL.L) and Xstrata (XTA.L) are joint owners of the deposit, which a week ago declared force majeure on copper concentrate sales -- a clause that frees the mine of liability with clients for delays in deliveries.

The export stoppage fanned global supply fears, helping copper hit new records last week.

Copper prices in Shanghai SCFc3 closed off early lows on Monday on a positive outlook for the metal, which is widely used in applications including water pipes, cars and power lines.