Venezuela aluminum output stable at Venalum shelter

www.forbes.com Reuters, 03.12.03, 10:52 AM ET CARACAS, Venezuela, March 12 (Reuters) - Venezuela's largest state-run aluminum smelter, Venalum, produced 33,321 tonnes in February, meaning it is on track to achieving annual output similar to the record 436,558 tonnes in 2002, a smelter spokeswoman told Reuters Wednesday. Venalum, operated by the state industrial holding Corporacion Venezolana de Guayana (CVG) in mineral-rich southeast Bolivar state, suffered no serious effect on its production from a two-month anti-government general strike that fizzled out early in February. The smelter's February output figure was below the 36,954 tonnes produced in January but roughly the same as the 33,256 tonnes registered in February, 2002. The fall in February compared with January was due to the smaller number of days in the month of February, the spokeswoman said. Venalum, which has a nominal capacity of 430,000 tonnes a year, has said it hopes to repeat this year the output level achieved in 2002, The opposition strike, called by foes of leftist President Hugo Chavez to try to force him to resign and call early elections, slashed oil output in the world's No. 5 petroleum exporter and reduced natural gas supplies to some strategic basic industries in Bolivar state. Venalum is 80 percent owned by a wholly owned subsidiary of CVG. The remaining 20 percent is held by six Japanese firms -- Showa Denko K.K. <4004.T> , Kobe Steel Ltd. <5406.T> , Sumitomo Chemical Co. Ltd. <4005.T>, Mitsubishi Materials Corp. <5711.T>, Mitsubishi Aluminum Co. Ltd. and Marubeni Corp. <8002.T> No data were availbale for CVG's smaller Alcasa smelter, which produced 14,206 tonnes in January.