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Zinc News

Australia will be first to excel at mining ocean floor for gold, copper, top Canadian professor predicts

By: Irma Venter     14th March 2008 Did Jules Verne know something the rest of the world is only waking up to now? In 1870, Verne wrote in Twenty Thousands Leagues Under The Sea that "in the depths of the oceans there are mines of zinc, iron, silver and gold that would be quite easy to exploit". 

Worker at Eritrea project injured by ground ordnance

By: Liezel Hill     11th March 2008 The driver of the project contractor's vehicle susustained minor injuries at the site of the Bisha gold project, in Eritrea, on Friday, after the vehicle was damaged by a ground ordnance, probably a land mine, Vancouver-based Nevsun Resources said. “Based on all information available,... 

Vale Q4 profit rises to $2,57bn

By: Liezel Hill     29th February 2008 Brazilian resources giant Companhia Vale do Rio Doce (Vale) increased fourth quarter net earnings to $2,57-billion, the group reported on Thursday. “Vale completed in 2007 the fifth consecutive year of extraordinary growth in its activities,” the group said in a statement. 

Exxaro has 17 coal, mineral sands, base-metal projects on way

By: Keith Campbell     29th February 2008 Although diversified South African mining group Exxaro regards itself as currently being in a consolidation phase – the company was only created in 2006 – it is not ruling out future expansion projects, and has inherited a significant project pipeline from the companies it was formed... 

Lundin reviews asset portfolio as new chief takes stock

By: Liezel Hill     28th February 2008 Base metals miner Lundin Mining is taking a close look at all its operations and investments, with a view to managing assets more actively and improving the quality of its portfolio, new CEO Phil Wright said on Thursday. Wright replaced former chief Karl-Axel Waplan in January. 

Australian miner to start study on North African zinc/lead mine

28th February 2008 Australian mining firm Terramin announced on Thursday that it would proceed immediately with the prefeasibility study into its flagship Tala Hamza zinc-lead mine in Algeria, following positive new results from a technical and economic review just completed. Based on the results from a study by... 

Metorex announces earnings rise, sees ‘robust' second half

By: Christy van der Merwe     21st February 2008 Diversified mid-tier miner Metorex, on Thursday reported a 5% increase in headline earnings a share, to 54c a share in the interim period ended December 31, and Metorex CEO Charles Needham looked forward to a "robust" performance ahead, irrespective of "some challenges" which... 

HudBay expects more zinc, less copper output this year

By: Liezel Hill     15th February 2008 Canada-based Hudbay Minerals expects zinc output to rise and gold and silver production to remain flat in 2008, but will process less copper concentrate in order to comply with Canadian air-quality targets, the company said on Friday. 

Galore Creek review will likely take more than a year – Teck Cominco chief

By: Liezel Hill     12th February 2008 Vancouver-based diversified miner Teck Cominco expects a review of its jointly-owned Galore Creek project, in British Columbia, to take at least a year, and “probably more”, president and CEO Don Lindsay said on Tuesday. Teck and partner NovaGold said in November last year that they... 

Exxaro shares plunge after publishes outlook for FY earnings

By: Matthew Hill     8th February 2008 JSE-listed diversified-miner Exxaro took a beating in Friday morning trade, after it put up a trading statement after the market's close on Thursday.  

Exxaro expects full-year earnings of between R1,35bn and R1,5bn

By: Liezel Hill     7th February 2008 Diversified resources group Exxaro Resources expects to report earnings and headline earnings of between R1,36-billion and R1,5-billion when it publishes full-year results later this month. 

US recession would rout base metals prices - economist

By: Jade Davenport     4th February 2008 Canada-based Dundee Wealth Economics chief economist Dr Martin Murenbeeld said on Monday that a looming recession in the US was the most immediate factor challenging the sustainability of curently-high commodity prices. 

HudBay Minerals replaces CEO, shares gain

By: Liezel Hill     25th January 2008 Canadian miner HudBay Minerals announced unexpectedly, late on Thursday, that its president and CEO, Peter Jones, had resigned and would be replaced, effective immediately, by chairperson Allen Palmiere. 

Drilling in DRC may yield high gold deposits

By: Sylvester Haskins     18th January 2008 Pan-African resources company, Mwana Africa plc, reports positive results from its gold drilling programme in its Zani-Kodo joint venture with State-owned gold mining company Okimo, in the Democratic Republic of Congo (DRC) where it holds exploration rights in the Orientale province, the company... 

Aim Resources reshuffles board, looks to appoint new MD

15th January 2008 Emerging African zinc producer Aim Resources announced on Tuesday that it was looking to appoint a new MD, as current Mark Flory had been appointed as nonexecutive chairperson. 

Long-lead items ordered for Mexico copper/cobalt project

By: Liezel Hill     14th January 2008 Vancouver-based Baja Mining has begun placing orders for the construction camp and several long-delivery-time items for its Boleo copper/cobalt project, in Mexico, the firm said on Monday. 

Eritrea issues mining permit for Bisha project

By: Liezel Hill     8th January 2008 The government of Eritrea has awarded a mining licence for the Bisha gold and base metals project, Vancouver-based Nevsun Resources said on Tuesday. 

China's Jinchuan offers to buy Tyler Resources

By: Liezel Hill     7th January 2008 China's biggest producer of nickel, cobalt and platinum-group metals, Jinchuan Group, has offered C$1,60 a share in cash for Canadian exploration firm Tyler Resources. 

Aim Resources withdraws offering after errors in report

By: Liezel Hill     2nd January 2008 Australia-based Aim Resources, which plans to list on the Toronto Stock Exchange, has put a convertible debenture fundraising on ice after errors were discovered in an independent persons report on the firm's flagship project. 

Production back to normal at Honduras zinc mine

By: Liezel Hill     7th December 2007 TSX-listed Breakwater Resources said on Friday that milling operations at its Mochita zinc mine, in Honduras, had returned to normal levels. 

Anglo-linked company scours the ocean floor for precious and base metals

By: Irma Venter     7th December 2007 There is quite a bit more underneath the sea than diamonds and oil. 

AIM Resources announces A$25m financing plan for exploration, development

By: Olivia Soraya Spadavecchia     3rd December 2007 ASX-listed AIM Resources has finalised the details of a revised A$25-million convertible debenture offering, the company reported on Monday. 

Japan helping South Africa towards creating technology-based economy

By: Esmarie Swanepoel     30th November 2007 South Africa and Japan this month signed a joint statement on minerals.  

Miner targets platinum, coal and nickel expansion

30th November 2007 Diversified mining group Xstrata Resources (Xstrata) is targeting the platinum, coal, and nickel sectors in a move to achieve company growth.  

Canadians rope in Koreans to raise capital for Namibian uranium venture

By: Felix Njini     23rd November 2007 Toronto Stock Exchange-listed Forsys Metals Corporation has roped in Korean nuclear energy firm Korea Hydro & Nuclear Power Company (KHNP) to help raise capital for its Namibian uranium venture which, company officials say, is to take off in 2009. 

Explorer aims to raise R140m for Salt River base minerals, precious metals project

By: Irma Venter     26th October 2007 Resources explorer Thabex aims to raise R140-million to complete the bankable feasibility study of its Salt River base minerals and precious metals project, in the Northern Cape. This funding includes installation of a modular pilot plant. 

Scott Lowe appointed COO of Burkina Faso zinc project

By: Matthew Hill     9th October 2007 Australia-based Aim Resources has appointed ex-BHP Billiton man Scott Lowe as COO of its Perkoa zinc project in Burkina Faso, it said this week. 

Burkina Faso mine to produce first zinc by 2009

6th September 2007 Australian miner Aim Resources, a company developing the first zinc mine in west Africa, says first production can be expected from the Perkoa project, in Burkina Faso, by 2009. 

Sipho Nkosi to take the helm at Exarro

By: Matthew Hill     31st August 2007 Spring day, September 1, has traditionally signified a season of new beginnings, which which will ring particularly true in the case of South Africa�s biggest black-owned mining firm, Exxaro Resources, when Sipho Nkosi replaces Dr Con Fauconnier as CEO on the day.  

Nothing to suggest that stable aluminium prices will move up or down significantly

By: Irma Venter     31st August 2007 London-based Natixis Commodity Markets (NCM) projects a relatively balanced aluminium market this year, with the deficit expected at 50 000 t for 2007, compared to last year’s 357 000 tons. 

Exxaro's earnings leap 61% on soaring commodity prices

By: Matthew Hill     16th August 2007 South Africa's biggest black-owned mining company Exxaro Resources reported on Thursday that its earnings for the six-months ended June 30 shot up 61% year-on-year to R839-million, or R2,46 a share, on the back of buoyant commodity prices. 

Mount Burgess starts drilling at Botswana zinc prospect

By: Mariaan Webb     13th August 2007 Australian explorer Mount Burgess Mining has started drilling at its Kihabe zinc project, in Botswana, using a multi-purpose reverse circulation/diamond core rig.  

Production halted since Sunday at Nambian mine, strike continues - Exxaro

By: Olivia Soraya Spadavecchia     3rd August 2007 Diversified resources group Exxaro Resources (Exxaro) said on Friday that an illegal strike had been under way at its Rosh Pinah zinc/lead mine in Namibia since Sunday, July 29. 

Diamond Fields inks Zambian exploration JV agreement

25th July 2007 Toronto-listed Diamond Fields International (DFI) has concluded a joint venture agreement with Lion Fields for mineral exploration in a highly prospective area in western Zambia, the Cape Town-based company said on Wednesday. 

'World zinc, lead stocks at critical low'

By: Martin Creamer     25th July 2007 World zinc and lead stocks had reached a critical low, Mount Burgess Mining MD Nigel Forrester said in Gaborone on Wednesday.  

Zinc prices set to continue slide - GFMS

By: Matthew Hill     6th July 2007 Zinc prices will continue to dip, with an average price in the fourth quarter of 2007 of $3 200/t, compared with July's price of $3 465/t, as it move towards a more realistic base, and production ramp-ups near, metal-market watcher GFMS Consulting said in its July quarterly newsletter. 

Shield granted another prospecting permit in Mauritania

By: Matthew Hill     4th July 2007 ASX-listed explorer Shield Mining (Shield) announced on Wednesday that it had received yet another permit to search for gold and base metals in Mauritania. 

Junior mining index market cap tops R100bn

By: Nelendhre Moodley     28th May 2007 The NedSec Junior Mining & Exploration Index (NSJME) has reached a free-float weighted market capitalisation of R104,6-billion, Nedbank Capital said in a statement on Monday. 

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