Zijing Mining (601899.SH, 2899.HK) company secretary Zheng Yuqiang said on Wednesday that a copper plant recently closed for leaking waste would be unlikely to reopen for a further six months, the South China Morning Post reported. The firm is trying to repair a leaking toxic waste water pond, which has contaminated the nearby Ting River, and plans to build a new pond. Company officials declined to give an estimate of the cost of the damage, but Credit Suisse estimates that for the 2010 fiscal year, the firm’s net profit will decrease by around 0.9% for every month of delay at Zijin’s largest copper smelter.
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