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MTX
MEMTX
MTX - Metorex Limited - Production update - six months ended 31 December 2010
Metorex Limited
(Incorporated in the Republic of South Africa)
(Registration number 1934/005478/06)
Share code: MTX
ISIN: ZAE000022745
Issuer code: MEMTX
("Metorex")
_____________________________________________________________________________
PRODUCTION UPDATE - SIX MONTHS ENDED 31 DECEMBER 2010
_____________________________________________________________________________
Production highlights - 6 months ended December 2010:
- Copper production increased by 5 percent to 26 358 tons
- Cobalt production increased by 26 percent to 2 021 tons
Terence Goodlace, Chief Executive Officer said: "It is pleasing to report that
Metorex increased copper and cobalt production for the six months ended December
2010. This increase was despite the previously reported transformer challenges
at Ruashi during the December 2010 quarter which adversely affected copper and
cobalt production. The current market for copper remains positive and prices
remain buoyant."
Group production statistics
Commodity Unit Six months ended Six months ended
June 2010 December Change
2010 (%)
Copper - Ruashi (t) 14 323 15 467 +8
Copper - Chibuluma (t) 8 721 9 008 +3
Copper - Sable (t) 2 167 1 883 -13
Copper - total (t) 25 211 26 358 +5
Cobalt - Ruashi (t) 1 572 2 008 +28
Cobalt - Sable (t) 29 13 -55
Cobalt - total (t) 1 601 2 021 +26
The Information contained in this announcement has not been reviewed or
reported on by Metorex`s auditors. The detailed report for the six months
ended 31 December 2010 will be released to the market on or about 1 March 2011.
Johannesburg
19 January 2011
For further enquiries please contact:
Metorex CEO, Terence Goodlace Tel: 011 215 4000
CFO, Maritz Smith
College Hill Jacques de Bie Tel: 011 447 3030
Sponsor
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 19/01/2011 11:45:01 Produced by the JSE SENS Department.
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