Sometra SA needs zinc price gains to restart Copsa Mica Plant
Friday, 19 Jun 2009
Bloomberg reported that Sometra SA, a Romanian metals company controlled by Athens based metals and energy group Mytilineos Holdings SA, needs further gains in zinc prices before restarting its Copsa Mica zinc and lead smelter.
Mr Nikolaos Kontos, group investor relations officer at Mytilineos, said that "It can restart operations. Timing of such a decision will depend on zinc prices stabilizing at higher than today's levels. The decision also depends on restrained costs for metallurgical coal and a revival of zinc market demand in Europe, which still remains very low."
The smelter’s annual production capacity is 65,000 metric tons of zinc and 30,000 tons of lead, according to Kontos.
Macquarie Group Limited said in a June 15th 2009 report that Metallurgical coal contract prices will rise to USD 140 a tonne in 2010 from USD 129 a tonne in 2009.
