Altona joins ranks of copper producers

Reported by AAP
Tuesday, February 14, 2012

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Altona Mining has joined the ranks of copper producers after its wholly owned Outokumpu project in Finland commenced output.

Shares in Altona were up 1.5 cents, or 5.77 per cent, at 27.5 cents at 1355 AEDT compared to losses in the broader market of 0.8 per cent.

The Perth-based company on Tuesday said concentrate grades had quickly ramped up to 24 per cent copper, which was notable given the low-grade feed that was being used for commissioning of the nearby Luikonlahti processing plant.

Managing director Alistair Cowden said it was a great achievement for the company to have started production seven months after commencing refurbishment of the processing plant.

Later this month, the company is slated to start delivering copper concentrate to the Harjavalta smelter in south-western Finland, operated by Swedish mining and smelting company New Boliden.

First revenues would follow in March, Altona Mining said in a statement.

22/05/2012 00:46Sydney, Australia. 22 May,2012
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