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AUSTRALIA'S PASMINCO SMELTERS POST STRONG JUNE QUARTER RESULTS.
PERTH, Aug 1 Asia Pulse - Pasminco's (ASX:PAS) Port Pirie and Hobart smelters have posted strong June quarter results as the company's creditors prepare to vote on a proposed restructure and Australian Stock Exchange relisting.
Pasminco said its Hobart and Port Pirie smelters achieved record production for both the June quarter and the full year to June 2002.
It helped offset problems elsewhere with production at Cockle Creek in NSW hit by a planned 10-day shutdown of the blast furnace while hot weather impacted production at Clarksville in the United States.
The Budel smelter in the Netherlands also performed below capacity after carbon content in Century zinc concentrates were found to cause elevated operating temperatures in the roaster.
Pasminco warned operating rates at Budel could remain lower for the next six months while alternatives were investigated.
The company's total lead zinc production for 2001/02 of 2.07 million tonnes was up six per cent on the 1.96 million tonnes produced last year despite the recent sale of its Broken Hill mine to Perilya.
At its flagship Century zinc mine in north Queensland, contained lead concentrate sank seven per cent in the June quarter to 195,712 tonnes following the breakdown of the ball mill motor while ...
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