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Zinc News

Noront expands RoF land-holdings, outlines exploration and development strategies

By: Henry Lazenby     26th August 2016 Northern Ontario-focused project developer Noront Resources has increased its position as the dominant land-holder in the prospective Ring of Fire (RoF) mining camp after closing the acquisition of 75% of MacDonald Mines’ claims in the region, the company said this week. Through the transaction,... 

South32 to pay inaugural dividend despite significant revenue drop

By: Samantha Herbst     25th August 2016 Despite a 25% drop in revenue for the 2016 financial year, diversified mining major South32 announced on Thursday that it would pay an inaugural shareholder dividend of $0.01 a share, reflecting the company’s belief in its operations and the flexibility of its balance sheet. With revenue down... 

South32 to pay inaugural dividend despite significant revenue drop
Photo by Bloomberg
South32 CEO Graham Kerr

Tightening supply should bode well for commodity prices – Glencore

By: Martin Creamer     24th August 2016 Diversified mining and marketing company Glencore, now with a significantly reduced debt profile, is producing its key commodities at exceptionally low operational cost, exemplified by the unit cost of the zinc it produced in the six months to June 30 coming in at the negative unit cost figure of... 

Tightening supply should bode well for commodity prices – Glencore
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Think zinc: miners bet big on revival in key base metal market

By: Reuters     24th August 2016 Resource companies are racing to dig zinc mines, betting that markets for the metal used to rust-proof steel and protect noses from sunburn have finally turned after a decade in the doldrums. A supply glut is evaporating as big zinc mines run dry, commodity analysts say, helping drive up prices... 

Teck raises concerns over Reward offer, JV following Rox–Marindi deal

By: Mariaan Webb     23rd August 2016 Diversified mining company Teck Resources has raised concern over the offer that joint venture (JV) partner Rox Resources had accepted for its 49% interest in the Reward zinc and lead project, in the Northern Territory. Under a JV agreement, Rox was required to offer to sell its interest in the... 

KWG and Chinese engineering group move ahead with RoF rail feasibility study

By: Henry Lazenby     23rd August 2016 Junior exploration firm KWG Resources has appointed a China-based consulting engineering group to undertake a conditional bankable feasibility study (BFS) on a proposed railroad from the mineral properties in Ontario's Ring of Fire (RoF), to a junction with the CN Railroad at Exton, Ontario. KWG... 

PNX fully funded to complete Hayes Creek PFS

By: Mariaan Webb     22nd August 2016 Base and precious metals explorer PNX Metals has received strong support from new investors and existing major shareholders in its latest share placement, raising $1.5-million to fund the completion of its prefeasibility study (PFS) for its flagship Hayes Creek project, in the Northern... 

Report urges govt inquiry into Glencore Australia zinc mine clean-up

By: Reuters     22nd August 2016 Plans to expand Glencore's McArthur River zinc mine in Australia should be put on hold, subject to a government inquiry to ensure it can be run soundly and its waste rock stored safely, a report released on Monday said. The call comes following problems at the mine over the past few years,... 

Drilling reveals high-grade zinc/copper at Prieska project

By: Mia Breytenbach     19th August 2016 ASX-listed Orion Gold has made a “strong start” to its maiden drilling programme at the Prieska Copper (PC) zinc/copper project, in the Northern Cape, with initial assays including grades of up to 21.7% zinc and 7.5% copper confirming and enhancing historical results. The PC mine, a key part of... 

Drilling reveals high-grade zinc/copper  at Prieska project
Photo by Bloomberg
HISTORICAL PERFORMANCE The Prieska Copper mine has a recorded historical production of 0.43-million tonnes of copper

Horomela seeks to expand its asset base, attracting investors

By: Ilan Solomons     19th August 2016 Local base metals exploration and mining aspirant Horomela last month received permission from the Department of Mineral Resources (DMR) to assess the viability of exploring a further 600 000 ha of tenements adjacent to an existing 200 000 ha of prospecting land, in the Namaqualand region of the... 

Horomela seeks to expand its asset base, attracting investors
Photo by Duane Daws
ABONGILE MDINGI The Department of Mineral Resources has given Horomela the go-ahead to survey its new tenements for copper, lead, silver, tungsten, zinc and uranium

MMG to start formal expression of interest process for Golden Grove

By: Mariaan Webb     18th August 2016 Metals miner MMG has received “several approaches” from parties interested in its Golden Grove copper mine, in Western Australia, CEO Andrew Michelmore has said. The China-owned company, which this week reported a half-year loss of $67-million, will appoint a financial advisor to start a formal... 

Rox accepts $21m offer from Marindi for Reward project stake 

By: Megan van Wyngaardt     17th August 2016 Perth-based Rox Resources has accepted a revised offer from fellow ASX-listed Marindi Metals for its 49% interest in the 58-million tonne Reward zinc and lead project, in the Northern Territory. Marindi initially offered $16-million for the interest in the Reward project, but has revised its... 

Zinc deficit looms, prices up, but output restarts unlikely

By: Reuters     16th August 2016 Zinc's sharp rally and looming market deficit has fed speculation that major producers such as Glencore may reverse output cuts, but analysts caution that is unlikely to happen soon. Only when stocks of concentrate and metal sink to levels where higher prices can be sustained will large producers... 

BMR Group seeks to acquire Zambian zinc prospect

By: Megan van Wyngaardt     16th August 2016 Aim-listed BMR Group is in the process of acquiring a large-scale zinc prospecting licence, known as Star Zinc, from Zambia-based Bushbuck Resources for $1-million. The two companies on Monday entered into a 60-day exclusive option agreement for the 83 km2 licence, to the immediate north of... 

Glencore begins arbitration against Bolivia over mine nationalisation

By: Reuters     15th August 2016 Swiss-based mining and trading firm Glencore said it would begin arbitration proceedings against Bolivia over the nationalisation of some of its assets by the Evo Morales government. "Glencore's objective has always been to settle the dispute with the government of Bolivia amicably," the company... 

EY’s Canadian Mining Eye index surges on buoyant gold, base metals prices

By: Henry Lazenby     12th August 2016 Professional services firm EY’s Canadian Mining Eye index surged 42% during the three months ended June 30, as major miners gained 29% on the back of rising gold and base metal prices. Gold prices increased by 7% in the second quarter, compared with 16% gains in the prior period, while the major... 

Mining company weathers market volatility to further zinc project

By: Robyn Wilkinson     12th August 2016 While very few mining companies are implementing new projects as they struggle to navigate a volatile commodities market, zinc miner Vedanta Zinc International is developing its Gamsberg zinc project, in the Northern Cape. 

Mining company weathers market volatility to further zinc project
Photo by Duane Daws
RIGHT TIME AND PLACE Vedanta’s new Gamsberg project is well positioned to take advantage of the global zinc supply shortage

Zinc price to reach cyclical high in 2018

By: Robyn Wilkinson     12th August 2016 The outlook for the zinc market over the next few years is positive, with the price forecast to reach a cyclical high of more than $3 800/t in 2018, says research and consultancy group Wood Mackenzie zinc markets principal analyst Jonathan Leng. 

Zinc price to reach cyclical high in 2018
JONATHAN LENG New zinc projects will boost Africa’s mined zinc output in an undersupplied market

Glencore guiding higher ferrochrome, nickel output

By: Martin Creamer     11th August 2016 Diversified mining and marketing company Glencore on Thursday guided higher 2016 ferrochrome and nickel production – the only two commodities it expects to produce at levels higher than in 2015. Reporting lower half-year production of copper, zinc, lead, coal and oil than in the first six months... 

Glencore guiding higher ferrochrome, nickel output
Photo by Duane Daws
Glencore CEO Ivan Glasenberg

Marindi’s time-sensitive offer for Rox’s JV stake lapses

By: Natasha Odendaal     10th August 2016 ASX-listed Marindi Metals is considering its options after its offer to acquire Rox Resources’ 49% stake in the Reward zinc/lead joint venture (JV) project, in the Northern Territory, lapsed on Tuesday evening. The initial unsolicited August 5 offer was placed on the clock on Tuesday after... 

Heron to list gold and nickel assets separately to focus on Woodlawn

By: Megan van Wyngaardt     10th August 2016 The proposed listing of Heron Resources’ wholly-owned subsidiary, Ardea Resources, will see the company restructure its non-Woodlawn asset portfolio in New South Wales and Western Australia, with a focus on gold and nickel. Ardea’s development focus will be on the 6.62-million tonnes at 1.5 g/t... 

China's Guangdong sets up tribunal to handle zombie firms – media

By: Reuters     9th August 2016 China's Guangdong province has set up a special court to deal with disputes that arise from the closure of "zombie enterprises", the official China Daily reported on Tuesday. The Guangdong High People's Court unveiled a new tribunal on Monday to help settle legal issues that might arise from the... 

China's Guangdong sets up tribunal to handle zombie firms – media

Hindustan Zinc plans to double silver output in next five years

By: Reuters     9th August 2016 Hindustan Zinc, a subsidiary of mining conglomerate Vedanta, aims to produce 1 000 t of silver in the next five years as the company seeks to take advantage of rising prices and more demand for the metal. Due to increased demand from silver investors and from solar panel producers globally,... 

LME cuts fees for short-dated trades

By: Reuters     5th August 2016 The London Metal Exchange said on Friday it will cut trading fees for short-dated trades from September 1, cap charges for transfers and reduce the initial margin payable for LME Clear. "The LME has concluded that a 44% fee reduction on member short-dated carries should be implemented, bringing... 

Metals X raises A$100.6m, intends to demerge gold assets

By: Samantha Herbst     4th August 2016 Diversified junior Metals X has completed an institutional placement to raise A$100.6-million – and is undertaking a share purchase plan of up to A$15-million – to fast-track the development of additional production from several of the company’s projects in both the gold and base metals... 

Metals X raises A$100.6m, intends to demerge gold assets
Metals X CEO Peter Cook

Up 56% so far this year, zinc officially enters bull market territory

By: Henry Lazenby     3rd August 2016 Several factors are conspiring to drive zinc spot prices up 56% since the start of the year to $1.03/lb on Tuesday, officially pushing the base metal into bull market territory. Indicators painted a less bearish picture, including falling inventories and rising physical premiums, Bank of America... 

Up 56% so far this year, zinc officially enters bull market territory

Rio Tinto earnings slump to 12-year low, warns conditions still tough

By: Reuters     3rd August 2016 Global miner Rio Tinto reported a 47% slump in first-half profit to its weakest in 12 years on Wednesday, still beating forecasts and a strong balance sheet allowed it to pay a higher dividend than expected. It said commodity markets remained a challenge, even as the mining sector stages a... 

Rio Tinto earnings slump to 12-year low, warns conditions still tough

Metals X to announce corporate restructuring, capital raising

By: Mariaan Webb     2nd August 2016 Diversified miner Metals X is to announce a corporate restructuring, the company revealed this week, when it requested a trading halt from the ASX. Metals X, which has gold and base metals assets, also planned to announce a capital raising, and said that details would be unveiled on Thursday. 

Philippines' Duterte says nation can survive without mining companies

By: Reuters     1st August 2016 Philippine President Rodrigo Duterte on Monday warned mining companies to strictly follow tighter environmental rules or shut down, saying the Southeast Asian nation could survive without a mining industry. "We will survive as a nation without you," Duterte told a media briefing, referring to... 

Most South32 operations meet, exceed guidance in maiden year

By: Mia Breytenbach     29th July 2016 Diversified major South32 says the completion of restructuring initiatives and the fact that production met or exceeded guidance for the 2016 financial year for the majority of its operations positions the company well to achieve its unit cost guidance in the new financial year. Despite a... 

Most South32 operations meet, exceed guidance in maiden year
Photo by Bloomberg
RECORD PRODUCTION Mozal Aluminium, in Mozambique, achieved a yearly production of 266 000 t in the financial year under review

Chile zinc/silver project acquisition ‘timely’, says Golden Rim

By: Mariaan Webb     28th July 2016 Australia’s Golden Rim has completed the $2.29-million acquisition of the Paguanta zinc/silver/lead project, in northern Chile, where the company will start work shortly. Golden Rim, which bought 70% of the project from Herencia Resources, believes the acquisition is timely, as fundamentals for... 

Metalicity seeks partner to speed up Admiral Bay as zinc shortage is forecast

By: Mariaan Webb     28th July 2016 Buoyed by positive results from a scoping study and strong fundamentals for zinc, developer Metalicity will start a prefeasibility study (PFS) for the Admiral Bay project, in Western Australia, and has initiated a process to find a joint venture partner to accelerate the development. The scoping... 

'Crunch time' for zinc as China-owned miner seeks supply in Peru

By: Bloomberg     28th July 2016 Chinese-owned MMG is seeking new zinc deposits in Peru, which has the world’s third-largest reserves, after a dearth of global exploration in past decades led to a supply crunch. “We’re looking at places like Peru where there’s a lot of zinc,” and the company’s Las Bambas copper mine there gives... 

MMG shifts from zinc to copper as Las Bambas hits commercial production

By: Mariaan Webb     28th July 2016 China-owned MMG’s production is shifting from zinc to copper, as mining and processing ends at the Century mine, in North Queensland, and the new major Las Bambas mine, in Peru, starts operating commercially. Following successful construction, commissioning and ramp-up, Las Bambas produced 87... 

MMG shifts from zinc to copper as Las Bambas hits commercial production
The Century zinc mine ceased operations in 2015

Independence to raise up to A$280m to strengthen balance sheet

By: Creamer Media Reporter      27th July 2016 ASX-listed Independence Group (IGO) plans to raise up to A$280-million to strengthen its balance sheet and fund the remaining capital expenditure (capex) for its Nova base metals project, in Western Australia. The equity raising comprises a A$250-million fully underwritten placement and an up to... 

Independence to raise up to A$280m to strengthen balance sheet
The Tropicana mine is a joint venture between Independence Group and AngloGold Ashanti.

Zinc, the metal investors love this year, has an ugly sister

By: Bloomberg     26th July 2016 They come from the same mines and are called sister metals, but investors are showing more affection for zinc than lead. Zinc, used to rustproof steel, has jumped 40% this year to become the best-performing industrial metal. It has gained on concerns about shortages, while steel prices rose as... 

Zinc, the metal investors love this year, has an ugly sister

South32 on track to meet FY2017 cost guidance; FY2016 production in line with forecasts

By: Mia Breytenbach     21st July 2016 Diversified major South32 says the completion of restructuring initiatives and the fact that production met or exceeded guidance for the 2016 financial year for the majority of its operations is positioning the company well to achieve its unit cost guidance in the new financial year. Despite a... 

South32 on track to meet FY2017 cost guidance; FY2016 production in line with forecasts
Photo by Bloomberg
South32 CEO Graham Kerr

Judgment shows courts won’t easily endorse Mining Charter III's blunt arithmetical quotas – Leon 

By: Martin Creamer     19th July 2016 Mineral Resources Minister Mosebenzi Zwane would do well to ponder last Friday’s landmark Constitutional Court judgment as he and his department mull public comments on the draft reviewed Mining Charter that he sprung on the South African mining industry in a surprise April gazetting. This is... 

Judgment shows courts won’t easily endorse Mining Charter III's blunt arithmetical quotas – Leon
Photo by Duane Daws
Herbert Smith Freehills’ Peter Leon,
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