RIO DE JANEIRO Oct 11 (Reuters) – Brazil’s Vale SA
said it has begun producing copper concentrate at its
Lubambe mine in Zambia.
Production at the mine, which began on Oct. 4, is expected
to lead to an annual output of 45,000 tonnes of concentrate, the
company said in a securities filing on Thursday. Copper
concentrate is a raw version of commercial copper that is later
refined by smelters.
Vale’s efforts to increase copper production are part of a
strategy by the company, the world’s largest producer of iron
ore, to diversify into other commodities.
In addition to copper, Vale in recent years has pushed into
coal and fertilizer production. After increased efforts in
nickel mining, the company this year expects to overtake
Russia’s Norilsk Nickel as the world’s biggest
producer of nickel.
Still, iron ore at present accounts for about 90 percent of
Vale’s profits and nearly three-quarters of its revenues.
The Lubambe mine is a joint venture with African Rainbow
Minerals Ltd. and Zambia Consolidated Copper Mines
Ltd., the statement added.
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