China's Fangyuan churns out 1st copper from restored smelting line

Nov 2 (Reuters) -

Shandong Fangyuan Nonferrous Metals Group, China's biggestprivate-sector copper smelter by capacity, has churned out thefirst copper from its 300,000 tonnes per year production lineafter a long shutdown, the company said on Tuesday.

Fangyuan, which is ramping up output again after liquidityproblems at the end of 2019 forced it to run well belowcapacity, had fired up the line on Oct. 20 and the first copperanode was produced late on Monday.

The company, based in eastern China's Shandong province,canproduce a total 700,000 tonnes per year of copper, or around 3%of global output.

(Reporting by Tom Daly, Editing by Louise Heavens)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Monetary-driven precious metals outperform major base metals

Gold stocks hit by plunging equities markets

Gold stocks down as metal and equities momentum fades

Another Kazatomprom guidance announcement shakes uranium price

Major monetary drivers still supporting gold