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DJ Portuguese Neves Corvo Zinc Mine To Start Output July -Co
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Dow Jones Real-Time News for InvestorsSM
12:26 p.m. 05/02/2006
LONDON (Dow Jones)--Canada-based zinc miner Eurozinc Mining Corp.'s (EZM.T) Neves Corvo mine in Portugal will start up zinc production in July as scheduled to produce 25,000 metric tons an annualized basis, a company official said Tuesday.
This would likely double to 50,000 tons of zinc in concentrate by 2008, Executive Vice-President Ron Ewing said.
"Mine life is still expected until 2022 but we've got two drills going at the moment to extend mine life," Ewing said.
Eurozinc's Aljustrel mine, also in Portugal, was awaiting final clearance from the government, which was imminent, he added.
"We're waiting for a government sign-off day by day. From then, production could start off in 12 months," he said.
In 2004 Aljustrel was placed on care and maintenance in anticipation of higher zinc prices.
The mine will produce 50,000-60,000 tons of zinc in concentrate, rising to 80,000 tons once the Feitais section of the mine starts to contribute 1-1 1/2 years after Aljustrel comes back on stream, Ewing said.
-By Elisabeth Behrmann; Dow Jones Newswires; +44 (0)20 7842 9412; elisabeth.behrmann@dowjones.com
Dow Jones Newswires
05-02-06 1226ET
Copyright (c) 2006 Dow Jones & Company, Inc.
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