Cuban authorities expect for 2004 improvements in the basic industry and to achieve growths in such sectors as nickel and oil extraction, following the new investments aimed at enlarging their productive capacity.

The Ministry of Basic Industry reported that for the present year the directives of the nickel industry, one of the main exportable items of the Island, foresee to increase its production to over 100,000 tonnes.

With resources to enlarge its capacity and to acquire technologies, this industry expects to reach 77,000 tonnes of nickel plus cobalt in 2004, and to increase to 100,000 tonnes the production in the first phase of an enlargement process with new major added value products.

In 2003, the state-owned company Cubaníquel maintained the production of its two nickel producing plants over their design capacity for the fourth consecutive year, overfulfilled the plan of revenues and began the construction of a mineral carrier in Cuba’s eastern region.

According to Ángel Roberto Hernández Palau, General Manager of the Cubaníquel Entrepreneurial Group, that first phase would be followed by a second one that would embrace 7-10 years to reach 150,000 tonnes.

Last year, the production was affected by the productive inefficiency in one of its plants, and was 4,7% below equal stage in 2002, although the revenues were higher starting from the considerable increase in the prices.

Statistics of the sector indicate that Cuba is the fifth world nickel producer, and that the Cubaníquel company, producer of the 20% world’s cobalt, ranks sixth among the cobalt producing companies. In the last few years, this company has registered an annual average of $593 million USD, by extracting high-purity nickel plus cobalt, which is widely demanded in the international markets.

The exports excelled by 10,8% the plan for last year and increased to 32,5% regarding 2002, at the same time it was predicted that in 2004 they would increase in 111%.

The oil industry facilitated 50,3% of national consumption overall, with a 40% growth in the refinement, and replaced 325 tonnes of diesel by 130,7 of naphtha in the crude oil extraction. (27/04/2004)

(Taken from: Cubasi)