By David Stringer
MMG Ltd. (1208), the listed unit of China’s biggest state-owned metals trader, may revise the cost and schedule for a planned A$1.5 billion ($1.4 billion) zinc project in Australia after it identified complexities in the ore body.
Melbourne-based MMG, in which China Minmetals Corp. has a 73 percent stake, will review its planned mining method, production volumes and processing facilities at the Dugald River project in Queensland state, (more…)
By Kip Keen
As precious metals and copper prices plunged Thursday – but notably not zinc – there was blood on the streets for juniors especially, with a few gold producers getting the worst of it.
“We’ve got two negative headlines,” (more…)
GLENCORE Xstrata has passed the final hurdle for an expansion of its McArthur River zinc and lead mine in the Northern Territory, securing local government approval for a $US360 million ($370m) development that will more than double the operation’s processing capacity.
The expansion of the mine — home to the largest zinc deposit in the world, according to Glencore Xstrata (more…)
By Agnieszka Troszkiewicz
Zinc fell in London, paring the first weekly advance in nine, on concern about prospects for demand as economies struggle to maintain growth.
Figures on April 15 will show China’s economy expanded at an 8 percent annual pace last quarter, slower than projected in February, (more…)
By Jae Hur
The first retreat in Chinese zinc output in three decades and record global demand are spurring Morgan Stanley to predict the end of a six-year glut.
Consumption will outpace supply of refined metal by about 100,000 metric tons in 2013, equal to what the U.S. consumes in a month, with at least four more years of deficits, (more…)
By Agnieszka Troszkiewicz
Copper fell in London after higher production of the metal in China and expanding stockpiles indicated supply is ample.
Copper production in China increased 12 percent in the year’s first two months, according to the nation’s statistics bureau. Inventories tracked by the London Metal Exchange are the highest since 2010 and swelled today for a 19th session. (more…)
By Dorothy Kosich
One of the world’s largest zinc metals producers, Belgium’s Nyrstar NV, is relying on a business model that draws external stakeholders, such as state and federal governments, into helping to finance Nyrstar’s commercial and industrial improvements throughout its network of mines, smelters and advanced metal recovery facilities on several continents. (more…)
By Dorothy Kosich
Inmet Mining announced Tuesday that last year’s production met the upper end of the company’s 2012 guidance with 111,700 tonnes of copper and 66,300 tonnes of zinc.
2013 guidance ranges from 108,300 to 116,300 tonnes of copper, as well as 56,200 (more…)
By Barry Fitzgerald
THE historic Broken Hill zinc-lead-silver mine in western NSW is to keep on giving after 127 years of production.
The Chinese-controlled Perilya acquired the ageing operation in May 2002 from the collapsed Pasminco, (more…)
SWISS miner Xstrata will spend an extra $59 million on its Lady Loretta zinc and lead mine in northwest Queensland, bringing the total cost to $362m.
However, it has not revealed the extra metal production the work will bring. (more…)
By Barry FitzGerald
CHINA’S ongoing appetite for metals has been highlighted by a $1.48 billion conditional development go-ahead of the Dugald River zinc-lead-silver deposit in northwest Queensland by Chinese-controlled MMG.
At a time when other miners are retreating from making fresh capital expenditure commitments — particularly in base metals — MMG is backing its belief that Dugald River (more…)
By Kip Keen
It wasn’t so long ago, as reported by Reuters, that Lundin Mining told the press in Sweden that it was on the prowl for zinc and copper acquisitions. While you’re never going to get too many specifics about potential targets from a miner, Lundin did give some rough parameters of what it was after. Lundin CEO Paul Conibear said it was interested in copper and zinc mines – especially in Europe, Canada and Mexico with 30,000 to 70,000 tonnes metal production a year. (more…)
Anconia Resources of Vancouver has made a new volcanic massive sulphide discovery at its Atlas project 200 km west of Rankin Inlet. The best assay results from the first eight holes returned 11.93% Zn over 4 metres and 3,590 g/t Ag over 1 metre in separate holes. Copper, lead and gold were also present.
The sulfides are exposed in outcrop over a strike length of over 1.4 km, said the company. The current drilling program established (more…)
By Robin Bromby
IF you’re looking for a metal that has outperformed its fundamentals, look no further than zinc.
It is up 15 per cent so far this year, the best performer on the London Metal Exchange, closing on Friday at a quite perky $US2096 a tonne.
Canadian Zinc Corp. of Vancouver and the Government of the Northwest Territories continue to co-operate, advancing their August 2011 socio-economic agreement for the development of the Prairie Creek zinc-lead mine 200 km west of Fort Simpson.
On Aug. 13, 2012, Canadian Zinc played host to a number of dignitaries at the mine site. The guest list included the premier Bob McLeod; minister of industry, tourism and investment David Ramsey; minister of justice and human resources Glen Abernethy as well as Herb Norwegian, grand chief of the Dehcho First Nations. (more…)
By Rajesh Kumar Singh
Vedanta Resources Plc. (VED), controlled by billionaire Anil Agarwal, will raise its offer to increase its stakes in Hindustan Zinc Ltd. (HZ) and Bharat Aluminium Co., seeking control of bauxite mines and India’s biggest zinc maker.
The company will ask for shareholder approval on Aug. 28 to offer as much as 15 percent more for Hindustan Zinc, it said in a note to investors. The offer price for Bharat Aluminium will be raised as much as 63 percent to $550 million. (more…)
Toronto-based MacDonald Mines Exploration has drilled zinc rich massive sulphide mineralization at its Butler property 50 km southwest of Webequie and 35 km from the Big Daddy chromite deposit in the James Bay Lowlands. The company has identified multiple centres of extrusion, leading it to believe there is the potential to outline several volcanic massive sulphide deposits on the property. Geophysics indicates that deposits in excess of 20 million tonnes may be present. (more…)
By Cole Latimer
Australia’s MMG – a subsidiary of the China Minmetals Group of companies – has been given approval to begin mining one of the world’s largest zinc, lead, silver deposits.
The Queensland state government has granted final environmental approvals (more…)
By David Winning
INVESTEC has secured the mandate to carry out a strategic review of zinc and copper miner Kagara, which was placed in administration at the end of April.
Investec beat off competition from Rothschild and Argonaut to land the mandate from Kagara’s administrator Taylor Wooding. (more…)
By Dorothy Kosich
In what likely will be a period of ups and downs, mining companies around the world share significant hurdles: slowing growth in the Chinese economy as well as economic uncertainty in Europe and the United States.
“Slowing growth in the Chinese economy will, in our view, almost certainly (more…)