FACTBOX-Idled metal capacity restarts, projects on time
June 19 (Reuters) - Encouraged by higher prices, a few metal producers have started to reverse earlier cutbacks and project delays, 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 operations 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/DECISION REVERSALS
June 18 - Southern Copper (PCU.N) said it will move ahead with an expansion project at its Toquepala mine in Peru, reversing an earlier decision to put it on hold. Decision follows the recent rise in copper prices. [ID:nN18421858]
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 reopen 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 8 - BHP Billiton (BLT.L) (BHP.AX) said it would revise delayed expansion projects in Chile early next year if a recovery in copper prices was sustained. [ID:nSYD355271]
