Copper miner Aditya Birla Minerals Ltd
(ASX:ABY) says it is reviewing the possibility of re-opening its Mount Gordon mine and Nifty Oxide operations that are currently under care and maintenance.
The move has been prompted by a sharp rise in copper prices as a result of high imports from China.
The copper price is currently around US$7,400 per tonne compared to just US$3,000 this time last year.
Aditya says despite the market being in surplus today, the short-term outlook for the drivers of the rally in the price over the past six months remain intact i.e. booming Chinese demand and continued development in the world ex-Chinese demand.
Aditya Birla posted a $76 million loss for the year to March 30, 2009.
