Further coprporate manouvering:
01 September 2006
Early production restart for upgraded smelter:
1 September 2006: AIM-quoted copper mining group Weatherly International (WTI)
has brought its recently acquired smelter at Tsumeb in Namibia back online after
refurbishment of its number one furnace ahead of schedule.
The total rebuild of the furnace should bring this smelter's production up to
its full design capacity of 30,000 annual tonnes of copper
Weatherly announced last month that it has signed new contracts to provide
supplies of copper concentrates for the smelter. This smelting material will be
in addition to the concentrates from Weatherly's own operating mines in Namibia,
and potentially its exploration interests in Zambia.
Weatherly CEO Rod Webster said: "We're delighted to bring the furnace back into
action ahead of schedule and look forward to building towards full capacity
during 2007 both with our own copper concentrates and those from our new
suppliers in the Democratic Republic of Congo, Namibia and Zambia."
The furnace at Tsumeb, Namibia, which has been totally rebuilt since Weatherly
took over control of Ongopolo's operations in July 2006, started smelting copper
concentrate again two days ahead of schedule on 29 August, with the first
blister copper produced on 1 September.
The US$2.8 million funding for the smelter's major upgrade came from the US$20
million cash injection that formed part of Weatherly's acquisition of the
Namibian company Ongopolo Mining and Processing earlier this year.
Ongopolo also has a second furnace with a capacity of approximately 80,000
tonnes which requires major refurbishment and its future is currently under
review.
London Stock Exchange Regulatory News Service
Friday, 01/09/06
Holding in Company
Weatherly International plc received notification on 6 September 2006 from RAB
Capital plc ("RAB") that the non-beneficial interest in the Ordinary share
capital of the Company held by RAB stands at 40,400,000 Ordinary shares of
nominal value 0.5 pence each, representing an interest of 11.9%.
As of 8 September, the Company had 339,419,361 shares in issue.
London Stock Exchange Regulatory News Service
Friday, 08/09/06,
- Forums
- ASX - By Stock
- EZE
- wti update
wti update
Featured News
Add EZE (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, CEO
Anthony Noble
CEO
SPONSORED BY The Market Online