By Dorothy Kosich
Scotiabank economist, Patricia Mohr, predicted that zinc will become the “big base metal play,” as a strong rebound in U.S. auto assemblies supports base metal premiums in the U.S.
In the March 27th edition of the Scotiabank Commodity Price Index, Mohr observed, Read more
Teck Resources and the National Agricultural Technology Extension Service Center (NATESC) of the Ministry of Agriculture of China have signed an agreement to demonstrate and promote zinc fertilizer use in China.
Zinc deficiency has serious impacts on agricultural production and human health. In humans signs of zinc deficiency include white spots on the nails, skin lesions, diarrhea, and wasting of body tissues. A lack of zinc can contribute to acne Read more
By Shivom Seth
London-listed Vedanta Resources is all set to ink two big-ticket acquisitions this year. While the first one involves a coal mine in Latin America with a reported buy target of $5 billion, the second acquisition is closer home.
The group has offered to buy the residual Indian government’s stake in Hindustan Zinc and the erstwhile Bharat Aluminium Company (Balco) for $3.2 billion. Read more
By Joe Richter
Zinc-processing fees may fall about 4.3 percent this year as tightening supplies of ore force smelters to offer their services to mining companies at a discount, a Bloomberg survey showed.
The benchmark treatment charge may slip to $200 a metric ton, based on a zinc price of $2,000 a ton, according to the average estimate of 10 respondents surveyed at the International Zinc Conference in Rancho Mirage, California. Macquarie Group Ltd. estimates last year’s processing fee was $209, after adjusting a base price for the metal to $2,000. Read more
By Liezel Hill
Nyrstar (NYR), the world’s largest producer of refined zinc, halted production at its Young mine in Tennessee after an equipment fire.
All employees have been evacuated, the company said in an e-mail today. Three miners who were trapped underground because of smoke were rescued at about 4 p.m. local time, it said. The mine employs 99 people, Renata Roberts, a spokeswoman said. Read more
By Kip Keen
A fast-approaching date with production puts Trevali Mining (TSX: TV) on the verge of transforming itself from junior explorer to polymetallic miner. With a 20-year mining lease covering its Halfmile mine in New Brunswick now in hand, Trevali said underground mining would start “imminently.” Read more
Lundin Mining (LUN-T 3.85 -0.29 -7.00%) expects a rise in zinc and copper production in 2013 and 2014, helped by higher grades of ore and a ramp up of its production facility.
The company sees zinc production rising to 125,000-135,000 tonnes in 2013 and 145,000-155,000 tonnes in 2014 from 109,000-125,500 tonnes expected in 2012. Read more
The world’s largest zinc metal producer, Nyrstar of Zurich, Switzerland, is celebrating its acquisition of the Langlois zinc-copper mine 50 km from Lebel-sur-Quevillon by hosting a welcome event. Nyrstar acquired the property when it paid $663 million earlier this year for Breakwater Resources. The company plans to resume production at the mine.
Jason Morin, interim general manager, commented on the future of the mine, saying, “Nyrstar is proud to be bringing the Langlois mine back into operation and we are proud to be working with the people of Lebel-sur-Quevillon. Read more
By John Martens
Nyrstar NV, the world’s largest producer of refined zinc, lowered its forecast for output from mines because of lower-than-expected deliveries from Talvivaara Mining Co.’s Finnish site, where it has an offtake agreement.
By Jae Hur and Sungwoo Park
The 28 percent plunge in zinc that drove the metal into a bear market may be ending as record demand from steelmakers erodes stockpiles and the price slump spurs producers to curb output.
About 50 percent of zinc is used to rust-proof steel and production of the alloy reached an all-time high of 31.7 million metric tons in the second quarter, according to Macquarie Group Ltd. Global stockpiles monitored Read more
By Firat Kayakiran
Tuticorin’s copper-cathode output jumped to 87,000 metric tons in the quarter ended Sept. 30 from 68,000 a year earlier, Vedanta said today in a statement. Mined zinc metal production rose 2 percent to 210,000 tons, while aluminum output fell 8 percent to 149,000 tons. Read more
By Jae Hur and Ichiro Suzuki
Japan’s zinc output will climb in 2012 as smelters run at full capacity to meet recovering demand from the auto and construction industries after the earthquake and tsunami, amid a forecast for a global deficit.
The world’s third-biggest economy is expected to produce 590,000 metric tons of refined metal next year, 8.5 percent more than 2010, said Nobuyuki Nakamoto, general manager at Mitsui Mining & Smelting Co.’s zinc business. Demand may increase 5.5 percent to 540,000 tons in 2012, he said. Read more
By Henry Meyer
Russian Technologies Corp., a state-run holding company, plans to set up a $1 billion joint- venture with Bank Saderat Iran to develop a lead and zinc mine in Iran, Kommersant reported, without citing anyone.
The project may be complicated by the fact that the Iranian bank is under Read more
YUKON – Indicated resources are increasing at the Selwyn zinc-lead project that straddles the Yukon-Northwest Territories border. The project is operated by Selwyn Chihong Mining, a joint venture of Selwyn Resources of Vancouver and Chihong Mining Canada,
The global indicated resource increased totals180.7 million tonnes grading 5.26% Zn and 1.83% Pb, for a total contained metal resource of 20.9 billion lb of zinc and 7.3 billion lb of zinc. Read more
By Soraya Prematasari
Minmetals Resources Ltd. (1208), a unit of China’s largest metals trader, said zinc production fell 13 percent in the second quarter because of lower grades at the Golden Grove mine in Western Australia.
By Jae Hur and Ichiro Suzuki
Zinc production in Japan will slump by at least 9 percent this year after the March earthquake, doubling imports to the highest level in 11 years, said the country’s top producer of the metal used to galvanize steel.
The world’s third-biggest economy will likely produce about 542,000 metric tons, down from an estimate of 597,000 tons before the disaster, said Nobuyuki Nakamoto, general manager at Mitsui Mining & Smelting Co.’s zinc business. The country may import as much as 80,000 tons this year, the highest level since 2000, he said in an interview in Tokyo. Read more