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Copper Spot News- Check out best bets for crude, gold, copper
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Dec
4
Mining giant Xstrata evaluates copper smelting
December 4, 2009 | Leave a Comment
Switzerland-based mining giant Xstrata is evaluating the assets benefits of its four copper smelting businesses in the wake of a global shortage for the metal concentration.
CEO of Xstrata Copper, Charlie Sartain in a statement that copper smelting businesses of the Xstratas, including Altonorte in Chile are under the scrutiny of whether or not it deserves to remain within the portfolio that we have.
The CEO expects decisions to be made in the coming months about possible efficiency enhancements at the smelters and “whether they have in fact justified the value benefits to Xstrata Copper or whether we have to do some further rationalization.”
Apart from Altonorte, Xstrata Copper has smelting operations at its Mount Isa mine in Australia and Kidd mine in Canada, as well as the standalone Horne smelter, also in Canada.
The executive added that Altonorte now contributes copper anode to the company’s Townsville refinery in Australia, which has improved cost efficiency at the refinery and provided a better outlet for the Altonorte anode as opposed to sending it to the CCR refinery in Canada