• Short Summary

    MORE THAN GBP27 MILLION STERLING WORTH OF COPPER IS LYING UNSOLD IN CONCENTRATE STOCKPILES ON ZAMBIA'S COPPERBELT.

  • Description

    MORE THAN GBP27 MILLION STERLING WORTH OF COPPER IS LYING UNSOLD IN CONCENTRATE STOCKPILES ON ZAMBIA'S COPPERBELT.

    THE DIRECT CAUSE OF THE STOCKPILING, WHICH IS NOW REACHING ALMOST UNMANAGEABLE PROPORTIONS, IS THE SHORTAGE OF COAL SUPPLIES, CONSIDERABLY REDUCED SINCE SEPTEMBER. THE SHORTAGES IN THEIR TURN ARE CAUSED BY RAIL HOLD-UPS ON THE RHODESIAN BORDER, AGAIN THE RESULT OF THE RHODESIAN UNILATERAL DECLARATION OF INDEPENDENCE.

    THE COAL STARVATION HITS AT THE CORE OF THE COPPER MINING PROCESS. COPPER-BEARING ORE ARRIVES FROM THE MINES, IS CRUSHED, AND CONCENTRATED BY CHEMICAL SEPARATION FROM THE WASTE ROCK. IN THE NORMAL COURSE OF EVENTS, THE COPPER CONCENTRATES THEN PROCEED TO THE SMELTER, WHERE THE COPPER, STILL IN AN IMPURE STATE, IS SMELTED OUT. (THE FINAL PROCESS INVOLVES MOULDING THE IMPURE COPPER, AND USING THESE AS THE ANODES IN AN ELECTROLYTIC PROCESS WHICH REFINES THE MOULDS INTO PURE COPPER.)
    IT IS THE SMELTING THAT SUFFERS FROM SHORTAGE OF COAL. AT THE MUFULIRA REFINERY, ILLUSTRATED HERE, ONLY ONE OF THE EIGHT FURNACES IS STILL FUNCTIONING -- AND THIS IS OIL-FIRED. MEANWHILE, THE STOCKPILE OF FINE DUST GROWS; AND, OWING TO WEATHERING AND HANDLING LOSSES, IS WASTED AT AN ESTIMATED RATE OF GBP140,000 WORTH OF COPPER A MONTH.

    THE ZAMBIAN GOVERNMENT SUGGESTS, HOWEVER, THAT WHILE THE PROBLEM CERTAINLY EXISTS, NEWSPAPER REPORTS HAVE MADE AN UNNECESSARY EXAGGERATION OF THE SITUATION. THE GOVERNMENT SUGGESTS THAT THE STOCKPILE WOULD NOT FETCH ANYTHING NEAR THE TWENTY SEVEN MILLION POUNDS QUOTED, WHEN IT BECAME AVAILABLE FOR SALE.

    COPPER PRICES ARE STILL HIGH ON THE INTERNATIONAL MARKET, BUT COMPANY OFFICIALS FEAR THAT A SUDDEN FALL ON THE LONDON METAL EXCHANGE COULD THROW THE INDUSTRY INTO DIFFICULTIES.

    AND THE STOCKPILE INCREASES -- IN MUFULIRA AT THE RATE OF 50,000 TONS A MONTH. THIS IS WORTH ABOUT GBP7 MILLION STERLING IN FINISHED COPPER.

  • Tags

  • Data

    Film ID:
    VLVA7BKAB4T5WB1XUYX6CKLM5A5HP
    Media URN:
    VLVA7BKAB4T5WB1XUYX6CKLM5A5HP
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    02/03/1967
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:01:21:00
    Time in/Out:
    /
    Canister:
    N/A

Comments (0)

We always welcome comments and more information about our films.
All posts are reactively checked. Libellous and abusive comments are forbidden.

Add your comment