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Zinc News

Glencore on nickel and zinc developments  

     8th December 2016 Diversified mining and marketing company Glencore sees a shortage in nickel arising, on the other hand, the company is producing zinc at negative cost. Mining Weekly editor Martin Creamer speaks to Creamer Media's Sashnee Moodley about the developments. 

Aveng wins Gamsberg zinc mining contract

By: Martin Creamer     6th December 2016 A contract to establish and mine the Gamsberg opencast zinc operation has been awarded to Aveng Moolmans by Black Mountain Mining, a Vedanta Zinc International operation. Vedanta acquired zinc assets including Gamsberg from Anglo American in 2010 for $1 338-million. 

Aveng wins Gamsberg zinc mining contract
Photo by Duane Daws
Vedanta Zinc International CEO Deshnee Naidoo

Glencore producing zinc at minus cost 

By: Martin Creamer     5th December 2016 Diversified mining and marketing company Glencore is producing zinc at negative cost. Towards the end of this year it has been doing so at -3c/lb and next year it expects to do so at an even better -14c/lb, supported by healthy lead by-product credits. 

Glencore producing zinc at minus cost
Photo by Duane Daws
Glencore CEO Ivan Glasenberg

Red River finds financing for Thalanga restart

By: Esmarie Swanepoel     2nd December 2016 The restart of the Thalanga zinc project, in Queensland, is now fully funded after ASX-listed Red River announced a A$30-million capital raise. The company told shareholders on Friday that it had received commitments to raise A$30-million through a two tranche placement of 162.1-million shares,... 

Hudbay prices $1bn senior notes offering

By: Henry Lazenby     2nd December 2016 Canadian base metals producer HudBay Minerals has priced its offering of $1-billion of senior notes, which will be issued in two series, the company said on Thursday. These will comprise a series of 7.25% senior notes due in 2023 for $400-million and a series of 7.625% senior notes due in 2025... 

Diligent Glencore delivers on debt promise, restarts dividend

By: Martin Creamer     1st December 2016 Diversified mining and marketing company Glencore has delivered on last year’s commitment to cut debt and structurally increase the strength of its balance sheet – and it has done so in a way that has preserved the group’s long-term earnings capability.  JP Morgan Cazenove analysts described the... 

Diligent Glencore delivers on debt promise, restarts dividend
Photo by Duane Daws
Ivan Glasenberg at last year's hand over by Glencore of a R75-million school in South Africa's coalfields to Basic Education Minister Angie Motshekga.

Glencore pivots from disposals to dividends as stock rallies

By: Bloomberg     29th November 2016 What a difference a year makes. Glencore fended off questions in 2015 about its survival as commodity prices hit new lows, and now there’s talk that the company’s turnaround plan has gone so well that it could be months away from paying dividends again. Surging coal and zinc prices, a rebounding... 

Capital expenditure to continue downward trend

By: Henry Lazenby     29th November 2016 Despite a modestly more buoyant outlook for key metal prices, mining capital expenditures (capex) are expected to continue on a downward slide over the next three years as miners seek further cost cuts and to improve operational margins, according to analysis by Fitch Group research arm BMI.... 

Capital expenditure to continue downward trend

Zinc explodes with lead in surge to highest level in nine years

By: Bloomberg     28th November 2016 Zinc headed for its highest close in more than nine years, while lead was set for its strongest finish since 2011 as bullish sentiment spurs a surge in metals. A momentum indicator eyed by traders signals that the markets are overbought. Industrial metals have climbed about 30% this year after... 

Discredited DMR making ill-considered demands on struggling industry

By: Martin Creamer     25th November 2016 The Department of Mineral Resources (DMR) is making ill-considered demands that have little hope of being met. Instead of following the continent’s African Mining Vision and Zambezi Protocol, the DMR is going out on a dictatorial limb. 

Discredited DMR making ill-considered demands on struggling industry
Photo by Duane Daws
Chamber of Mines CEO Roger Baxter and Chamber of Mines Senior Executive Public Affairs and Transformation Tebello Chabana

BMI ‘moderately positive’ about mining’s near-term future

By: David Oliveira     25th November 2016 The overall view for the global mining industry in the coming years is “moderately positive”, owing to the ongoing fiscal spending on construction, mostly driven by China, BMI Research mining and metals commodities analyst Mitchell Hugers said during a teleconference earlier this month. “Chinese... 

Ivanhoe on track with upgrading, recommissioning of Kipushi zinc/copper mine

By: Henry Lazenby     23rd November 2016 Canadian project developer Ivanhoe Mines is on track with the modernisation and upgrading of the Kipushi zinc/copper mine, in the Democratic Republic of Congo, having re-established clear and safe access to all areas of the main underground workings, the company stated Wednesday. The current mine... 

DMR appointment causes concern

By: Martin Creamer     23rd November 2016 Mineral Resources Minister Mosebenzi Zwane has controversially made a key appointment within the Department of Mineral Resources (DMR) on the grounds that it is only temporary.   Earlier this month, the Democratic Alliance (DA) Shadow Minister of Mineral Resources, James Lorimer MP, requested... 

DMR appointment causes concern
DA Shadow Minister of Mineral Resources James Lorimer MP

Base metals rise as Chinese investors hedge against weakening renminbi

By: Henry Lazenby     22nd November 2016 Most base metals traded in positive territory Monday, buoyed by accelerated buying as Chinese investors use commodities as a hedge against the depreciating Chinese  

Nyrstar hedges more zinc as price downside protection

By: Henry Lazenby     17th November 2016 European base metals business Nyrstar has entered into further short-term strategic hedging arrangements utilising put and call collar structures to mitigate potential down side risks to the zinc price. The global multi-metals business, with a market leading position in zinc and lead, said... 

Business, labour need to combine as errant DMR turns dictator

By: Martin Creamer     17th November 2016 The point has been made that mining business and labour have never been closer than now and that they need to make use of the current window of opportunity to establish a better foundation between themselves so that they can collectively shame the government into moving mining forward for the... 

Business, labour need to combine as errant DMR turns dictator
Chamber of Mines CEO Roger Baxter

Zijin Mining exec sees M&A opportunities in Australian copper, gold sector

By: Reuters     16th November 2016 China's Zijin Mining sees more acquisition opportunities in gold and copper in Australia as the country's mining sector restructures after years in the doldrums, director Qixue George Fang said on Wednesday. "M&A is still going on, but how much...depends on the opportunity, it depends on the... 

Trevali posts positive Q3 results as Caribou zinc mine continues ramp-up

By: Henry Lazenby     15th November 2016 Canadian base metals producer Trevali Mining has posted an operational profit for the third quarter ended September, which it billed as transformative for the company after declaring commercial production at its Caribou mine and mill, in New Brunswick. The Vancouver-based company posted a net... 

DMR must be challenged, good governance must be assured

By: Martin Creamer     7th November 2016 Mining has the wealth-generating potential to boost economies, but countries blessed with a mineral endowment must at least do their bit by assuring good governance. Regrettably, against the background of the recently released 'State of Capture' report of former Public Protector Thuli Madonsela,... 

DMR must be challenged, good governance must be assured
Photo by Duane Daws
Former Public Protector Thuli Madonsela

Upbeat Silvercorp reinstates dividend

By: Henry Lazenby     5th November 2016 China-focused primary silver miner Silvercorp Metals has reinstated its twice-yearly dividend of C$0.01 a share on the back of significantly improved second-quarter performance metrics for the fiscal year, the company announced Friday. Vancouver-based Silvercorp, which has several producing... 

Third-quarter Glencore coal production down on Optimum disposal

By: Martin Creamer     3rd November 2016 Third-quarter production of diversified major Glencore reflects the various operational suspensions and supply reductions announced and actioned notably in coal, oil, copper and zinc. The London-, Hong Kong- and Johannesburg-listed mining and marketing company, headed by CEO Ivan Glasenberg, said... 

Third-quarter Glencore coal production down on Optimum disposal
Glencore CEO Ivan Glasenberg

Hudbay reports Q3 profit as Peru, Manitoba ops ramp up

By: Henry Lazenby     3rd November 2016 Canadian base metals miner Hudbay Minerals is back in the black, boosted by strong performances from the Constancia mine, in Peru, and its Manitoba operations in Canada, which improved volumes and benefited from slightly higher prices. Since reaching commercial production in the second quarter of... 

Hudbay reports Q3 profit as Peru, Manitoba ops ramp up

Mining decline will continue unless new minerals Bill changed – Lorimer 

By: Martin Creamer     2nd November 2016 The decline of South Africa’s mining sector will continue unless the new Mineral and Petroleum Resources Development Act Amendment Bill – passed by the National Assembly on Tuesday – is radically changed, says Democratic Alliance Shadow Mineral Resources Minister James Lorimer MP. The Bill, sent... 

Mining decline will continue unless new minerals Bill changed – Lorimer
The Democratic Alliance’s Shadow Mineral Resources Minister James Lorimer MP

Ontario invests C$2.5m in mining R&D; Minister outlines progress to position province as mining leader

By: Henry Lazenby     2nd November 2016 The Ontario government on Tuesday announced that it would invest C$2.5-million in the Centre for Excellence in Mining Innovation's (CEMI's) ongoing work with the Ultra Deep Mining Network (UDMN), which is helping the mining sector develop and adopt commercially viable innovations. Part of a... 

Ontario invests C$2.5m in mining R&D; Minister outlines progress to position province as mining leader
Photo by Ontario Ministry of Northern Development and Mines
Minister of Northern Development and Mines Michael Gravelle addresses the Mining Innovation Summit 2016, held in Sudbury

Arizona Mining lifts Taylor deposit resource

By: Henry Lazenby     1st November 2016 TSX-listed Arizona Mining on Sunday announced a new mineral resource for the Taylor zinc/lead/silver sulphide deposit, located on its 100%-owned Hermosa project, in Arizona. The deposit now comprises 31.1-million tons in the indicated resource category grading 10.9% zinc equivalent (ZnEq), plus... 

Zinc hits five-year high as metal traders bet on China rebound

By: Bloomberg     1st November 2016 Zinc touched the highest in five years as the London Metal Exchange’s annual LME Week began with investors betting that a rebound in demand from China will underpin prices. Mining stocks also climbed. Metals are extending their advance after China’s economy stabilised in the third quarter,... 

Paused zinc rally expected to continue gaining momentum in 2017

By: Henry Lazenby     29th October 2016 Zinc’s 66% rally this year is expected to continue in 2017, according to analysis by Bank of America Merrill Lynch (BofAML) Global Research. Analysts believe the shortfall in mine output (concentrates) will be around 391 000 t this year, making this the largest deficit since 1993. 

Paused zinc rally expected to continue gaining momentum in 2017

BMR raises funds to advance Star Zinc project

By: Megan van Wyngaardt     28th October 2016 Zambia-focused zinc developer BMR Group has raised £620 000 through the placement of 9.25-million shares at 6.7p apiece. Each placee will also, for each share subscribed, receive one warrant to subscribe for a further new ordinary share at 7p apiece in the 42 days following publication of BMR's... 

Shell launches diluent for North American market

By: David Oliveira     28th October 2016 At this year’s MINExpo International, which took place last month in Las Vegas, in the US, global petrochemicals group Shell launched its ShellSol 2046NA solvents extraction diluent tailored for the North American market. Shell global business development manager Monica Karamagi explains that... 

Aeon hesitant to take on all Century's assets and liabilities

By: Esmarie Swanepoel     26th October 2016 ASX-listed junior Aeon Metals has told fellow-listed metals miner MMG that while it is interested in some of the assets that form part of the now-defunct Century zinc mine, in Queensland, the company is unable to buy the entire asset. Aeon Metals chairperson Tom Mann previously said that the... 

Caterpillar’s Q3 profit sags, casts dim outlook with lowered 2016 guidance 

By: Henry Lazenby     26th October 2016 The world’s largest earthmoving and mining equipment manufacturer Caterpillar has booked a sharply lower third-quarter profit, citing global economic weakness and an abundance of used equipment available, which is slowing sales. The NYSE-listed company expressed concern that the tough market... 

Caterpillar’s Q3 profit sags, casts dim outlook with lowered 2016 guidance

World Bank raises 2017 price outlook for oil and metals 

By: Terence Creamer     20th October 2016 The World Bank has increased its 2017 price outlook for both metals and oil in its latest ‘Commodity Markets Outlook’, raising its October forecast for crude oil to $55/bl, from $53/bl in July. It has, however, sustained its forecast for an average oil price of $43/bl in 2016. Energy prices,... 

World Bank raises 2017 price outlook for oil and metals

Brazil to offer thousands of mineral rights areas in H1 2017

By: Reuters     20th October 2016 Brazil's government plans to sell rights to as many as 22 000 mineral exploration areas in the first half of 2017, the president of the country's geological service (CPRM) Leonardo Ledsham said on Wednesday. Brazil also plans to sell nine large, strategic mining projects, he said, including: the... 

ELB as EPC contractor for Gamsberg process, water plants

By: Megan van Wyngaardt     19th October 2016 Engineering solutions provider ELB’s Engineering Services subsidiary has been appointed by Black Mountain Mining, a subsidiary of Vedanta Resources, to provide engineering, procurement and construction (EPC) services at the Gamsberg zinc project, in the Northern Cape. The company will oversee the... 

Acid mine water quick-fix possible as water deficit looms, Oppenheimer, De Beers told 

By: Martin Creamer     19th October 2016 Water-constrained Gauteng may see an acid mine drainage (AMD) quick-fix in order to save the fresh water from the Lesotho Highlands Water Project from being wasted on AMD dilution instead of being available to the economy, environmental adviser Dr Anthony Turton said on Wednesday. Delivering the... 

Acid mine water quick-fix possible as water deficit looms, Oppenheimer, De Beers told
Photo by Duane Daws
Environmental adviser Dr Anthony Turton

Gamsberg project cost lowered as zinc price outlook brightens 

By: Martin Creamer     14th October 2016 Zinc International, the subsidiary of the London-listed and India-rooted Vedanta, is managing to achieve what both Anglo American and Gold Fields failed to do before it – build a zinc mine that has been 40 years in the making at Gamsberg in the Northern Cape. Zinc International, headed by CEO... 

Gamsberg project cost lowered as zinc price outlook brightens
Vedanta's Zinc International CEO Deshnee Naidoo updates Mining Weekly Online’s Martin Creamer on the Gamsberg zinc project. Video and Video Editing: Nicholas Boyd.

Global decrease in exploration activity

     14th October 2016 Lower commodity prices, market instability, reduced investment and increased environmental awareness, have been cited as reasons for the global decrease in exploration activity by scientific agency for natural sciences the US Geological Survey (USGS). The agency released its yearly report on... 

Global decrease in exploration activity
EXPLORATION EMPHASIS Global exploration activity last year predominantly comprised of gold and copper exploration

Mining juniors poised for recovery – PwC

By: Henry Lazenby     13th October 2016 Junior mining companies make up more than 50% of the total market capitalisation on the TSX Venture Exchange, up from 36% on June 30, 2015, a new report by professional services firm PwC has found. As evidenced in PwC Canada's 2016 Junior Mine report, titled ‘Signs of Life’, cash flows from... 

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