Equinox Minerals Ltd. shares are holding up well Friday, after news that start-up production at the company's Lumwana project in Zambia will be delayed until at least December due to fire damages reported earlier this month at the project's process plant facility currently being constructed. The stock is up almost 3% to $3.81 approaching 2 p.m. ET. On July 7, Equinox said a fire had caused damage to a transformer and adjacent substation, both of which form part of the process plant facility currently being commissioned by the company’s EPC contractor, the Ausenco Bateman Joint Venture. Equinox said in a release today, that the recovery schedule and project hand-over from the EPC contractor based on current lead times for the replacement, installation and testing of the new equipment is now expected to be December 2008. Production at Lumwana had originally been expected to begin sometime this summer. ...
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