FACTBOX-Idled metal capacity restarts, projects on time
June 17 (Reuters) - Encouraged by higher prices, a few metal producers have started to reverse earlier cutbacks, prompted around mid-2008 by plunging demand.
But for metals like aluminium and nickel, where more cuts are still needed, such moves come on top of on-schedule start-ups of new projects and threaten to keep those markets in surplus for longer than most.
Some analysts are also concerned that zinc producers, who were fast to curtail output as demand slumped, might also contemplate reopening at current prices.
Below details news on restarts of capacity previously idled by low prices and poor demand.
We also detail the latest on new projects which have not been derailed by the global economic recession and have either started up recently, or are still on course to come on stream this year.
RESTARTS
June 17 - Bosnia's Aluminij Mostar could restore full aluminium production in the autumn if the metal's price recovery continues, a top official said. [ID:nLG844895]
June 12 - Zambia's mines minister said the country's Munali nickel mine plans to re-open within the next month. To be restarted by China's Jinchuan Nickel Group Ltd. [ID:nWEA6579]
June 9 - HudBay Minerals (HBM.TO) said it could restart its Chisel North zinc mine in Manitoba if the metal's price increases another 10 or 15 percent from its current level. [ID:nN09400371]
June 6 - China Nonferrous Metal Mining Corp (CNMC) pledged to invest $400 million in Zambia's Luanshya Copper Mines (LCM) after formally taking over running of the mines. CNMC said it would reopen the Baluba and develop Mulyashi as soon as possible, but gave no timeframe. The company has also commissioned the 150,000 tonnes per year (tpy) Chambishi copper smelter in Zambia. [ID:nL6314236]
June 3 - German independent aluminium producer Trimet Aluminium AG said it was raising slightly its output to 50 percent of capacity from 45 percent, citing a recovery in demand. [ID:nL36002]
