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Aditya Birla shuts Mt Gordon copper mine
Published on: January 09, 2009 at 23:10
Commodity Online
NEW DELHI: Following a slump in copper prices and a crash in demand, Aditya Birla Minerals Ltd has put its Mt Gordon copper mine in Queensland for maintenance.

The company said the project’s mill would continue to process stockpiles of ore and was likely to produce 1,800 tonne of copper in concentrate per month for about 12 months.

It has also suspended crushing and stacking of ore at its Nifty oxide operations in Western Australia but would continue to leach copper until the leaching operation became uneconomic.

Aditya Birla Minerals is 51% owned by India’s Hindalco Industries Ltd Hindalco.
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In India, gold is considered as one of the prestigious instruments of investment among the household consumers. Small household units are now becoming potential investors for gold from the key consumers. The demand for consumption purpose is no longer the main driver of demand for the yellow metal, but the systematic investments in retail gold investment options is the latest crush among the small investors in the country.
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