Canada's Breakwater sees smelter output, dn higher zinc prices

摘要

Canadian miner Breakwater Resources Ltd. said recent announcements of zinc production cutbacks and mine closures due to the low metal price have produced a shortfall in zinc concentrates, resulting in lower treatment charges which will eventually expected to lead to lower smelter production. "These factors, combined with an apparent recovering economy, should result in an increased price of zinc in the latter half of 2002," the company said in a press release.Breakwater said it is slightly ahead of its target to produce 483 million pounds of zinc at a total cash cost of 0.35 dollars per pound in 2002. Production of zinc contained in concentrate increased by 15 percent during the first quarter of 2002 compared with the same period of 2001, the company added. For the quarter ended March 31, the company said it had a consolidated net loss of 3.3 million dollars on gross revenue of 64.5 million dollars, compared with a consolidated net loss of 4.0 million dollars (0.04 dollars per share) on gross revenue of 80.1 million dollars for the same period in 2001.