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Zinc News

International Royalty sees 'infinite opportunities' as cash-crunched miners come a-knockin'

By: Liezel Hill     30th September 2008 Colorado-based mineral royalty firm International Royalty Corp (IRC) finds itself in the enviable position of being able to “pick and choose” between a host of potential deals, as miners and hopefuls seek alternative financing options. “It's been an amazing year in terms of the sheer volume,”... 

Junior leases polymetallic prospect in Nevada

By: Liezel Hill     29th September 2008 TSX Venture Exchange-listed Maestro Ventures has signed a lease agreement for the Gold Ore prospect, in Churchill County, Nevada, from JR Exploration, the firm announced on Monday. The four square mile property comprises 144 unpatented claims, and hosts lead, zinc, silver, copper and gold, as... 

Sentiment changes as the demand side weakens

By: Irma Venter     12th September 2008 The fact that some base metal prices have fallen by more than 50% in recent months, highlights the fact that investment activity in the market can turn quickly from being bullish to bearish, reports London-based Natixis Commodity Markets (NCM) in its third quarter metals review. 

Rio Tinto buys into explorers Kalahari Minerals, Extract

By: Liezel Hill     11th September 2008 Diversified-miner Rio Tinto has bought 14,9% of Aim-listed Kalahari Minerals, which is exploring for gold and base metals on several properties in Namibia, the smaller company reported on Thursday. Kalahari owns just under 40% of ASX-listed uranium explorer Extract Resources, which also... 

Ontario fast-tracks mining law revamp to bring much-needed clarity, 'balance' - Minister 

By: Liezel Hill     9th September 2008 Ontario's Minister of Northern Development and Mines, Michael Gravelle, has defended the pace at which his Ministry set about soliciting submissions on changes to the province's century-old Mining Act, saying that a protracted consultation process would only have prolonged the uncertainty for... 

SRA launches strategic review

By: Liezel Hill     29th August 2008 Toronto-based Strategic Resources Acquisition Corp (SRA) has appointed Blackmont Capital, Haywood Securities, and Paradigm Capital to act as financial and strategic advisors to the company. The advisors will perform a financial and strategic review of the cmpany and its assets, and will advise... 

HudBay unveils initial resource estimate for Lalor Lake deposit

By: Liezel Hill     27th August 2008 Base-metals-miner HudBay Minerals has published a maiden resource estimate for its Lalor Lake deposit, in Canada's Manitoba province. The deposit has NI 43-101-compliant indicated resources of 3,4-million tons, grading 1,9 g/t gold, 20,5 g/t silver, 0,71 g/t copper and 8,82 g/t zinc. 

Perception that miners do not receive support from DTI is erroneous – Deloitte

By: Leandi Kolver     22nd August 2008 There is a perception in the mining industry that it does not receive adequate support from the Department of Trade and Industry (DTI), in the form of grants because there is a special capital expenditure tax deduction system available for mining companies. 

Exxaro approves R9bn capital expenditure at Grootegeluk for Eskom’s Medupi power station

By: Martin Creamer     22nd August 2008 The board of Exxaro Resources has approved an R9-billion capital expenditure to expand Grootegeluk coalmine and plant to meet the demand for coal from Eskom’s new Medupi power station, which is under construction in South Africa’s Limpopo province. 

Metorex earmarks $400m to quadruple copper output

By: Matthew Hill     21st August 2008 Global copper supply will not be able to meet demand going forward, provided the developing world sustains its growth, midtier miner Metorex said on Thursday. The company plans on quadrupling its own output of the metal to 135 000 t/y in 2011, and will spend some $400-million to build two big... 

BHP says Rio takeover makes ‘more sense than ever’

By: Matthew Hill     18th August 2008 Resources colossus BHP Billiton said on Monday that a merger with smaller rival Rio Tinto “makes more sense than ever”, and that its original acquisition timetable remained intact. CEO Marius Kloppers said that BHP Billiton remained focused on seeing the deal through to conclusion, which he... 

BHP Billiton expects commodity markets to remain robust

By: Matthew Hill     18th August 2008 BHP Billiton, the world’s biggest resources company, on Monday reiterated its upbeat outlook on the commodities markets, as demand keeps growing, and companies struggled to bring on new supply. CEO Marius Kloppers said that “people are way too optimistic on the speed of which new projects can... 

Exxaro sees better second-half on improved coal output  

By: Matthew Hill     14th August 2008 JSE-listed Exxaro on Thursday said that it would “definitely see much stronger” results for the second half of 2009, as it raised coal output by “a couple of million tons”. Outgoing COO Mike Kilbride said that the company’s coal division, its biggest revenue source by far, would have a... 

Former Rio exec Rumble joins BHP board

By: Matthew Hill     14th August 2008 The world’s biggest resources company, BHP Billiton, has appointed Keith Rumble, a former executive of Rio Tinto, which it has targeted for a takeover, as a director. In an announcement on Tuesday, the company said that it had also appointed US-based Fluor Corporation chairperson and CEO Alan... 

Exxaro H1 headline earnings up 54% to R1,3bn 

By: Matthew Hill     14th August 2008 Diversified miner Exxaro, which is State-owned Eskom’s biggest coal source, on Thursday posted a 54% rise in headline earnings for the half-year ended June 30 to R1,3-billion, after its coal unit achieved a record operating profit of R935-million. However, net operating profit dropped by 10% to... 

Oz miner battles weak prices with low-tonnage, high-grade plan

By: Liezel Hill     11th August 2008 Sydney-based CBH Resources has unveiled a new higher-grade and lower throughput mine plan for its Endeavor operation, which it believes will keep the mine economically viable, despite low zinc and lead prices. The company plans to reduce ore production in 2008/09 from 1,3-million tons to 940 000... 

Lundin says Portugal zinc mine 'not viable', mulls options

By: Liezel Hill     7th August 2008 Shares in base-metals miner Lundin Mining slid on Thursday, after the company posted a second-quarter loss of $108,42-million, and said that its Aljustral project, in Portugal, was not economically viable at current zinc prices. The company recorded a $152,8-million noncash impairment after... 

SA’s gold output drops further

By: Matthew Hill     7th August 2008 The fall in South Africa’s gold production continued in June, when the industry produced 12,3% less of the yellow metal than the same month the previous year, government figures showed. Actual total mining production in the country for the quarter ended June 30, slid by 6,3% compared with the... 

HudBay takes a knock on lower zinc prices

1st August 2008 TSX-listed HudBay Minerals reported net earnings of $33,2-million for the second quarter, 51% less than a profit of $69,1-million a year earlier, after zinc prices weakened. Earnings were also negatively affected by higher costs for purchased copper concentrate, planned lower sales of copper and... 

Aim-listed seafloor deposits developer lodges its first mining licence application

By: Irma Venter     1st August 2008 AIM-listed explorer and developer of seafloor massive sulphide (SMS) deposits, Neptune Minerals, has lodged its first mining licence application, and this over the Rumble II West Seamount, within the New Zealand exclusive economic zone. 

Albidon CFO Nick Day to quit

By: Mariaan Webb     29th July 2008 Nickel-miner Albidon has started a process to find a replacement for its CFO Nick Day, who would leave the company on August 31, after four-and-a-half years. Albidon said on Tuesday that Day had timed his departure to coincide with the completion of construction and the production of first... 

Explorer Argentex has high hopes for polymetallic prospect in Argentina

By: Liezel Hill     28th July 2008 Vancouver-based Argentex Mining, which began trading on the TSX Venture Exchange on Monday, hopes to complete an initial NI 43 101-compliant resource statement early next year at its flagship Pinguino property, president Ken Hicks told Mining Weekly Online. The Pinguino project is located in... 

Teck Cominco studies wind power generation at Alaska mine

By: Liezel Hill     24th July 2008 Vancouver-based Teck Cominco is considering using wind or natural gas to power its largest zinc mine, the Red Dog operation, in Alaska, president and CEO Don Lindsay said on Thursday. “We are looking at different forms of energy...at every operation there is a focus on energy costs generally,”... 

Zinc surplus may be lower than forecast on shutdowns - Teck's Lindsay 

By: Liezel Hill     24th July 2008 Vancouver-based Teck Cominco expects that the zinc market surpluses for both 2008 and 2009 will likely be smaller than currently being forecast, partly because lower prices may force mines to close prematurely, president and CEO Don Lindsay said on Thursday. Zinc prices have fallen sharply over... 

Teck Cominco lifts quarterly profit 2,5% on copper, coal earnings

By: Liezel Hill     24th July 2008 Vancouver-based Teck Cominco increased second-quarter net earnings to C$497-million, an increase of 2,5% over profit of C$485-million a year earlier, after copper and coal sales rose. The copper division contributed 53% of the operating profit in the quarter, and the coal unit accounted for 35%,... 

Aim Resources starts legal proceedings against ex-MD Flory

By: Liezel Hill     23rd July 2008 Sydney-based Aim Resources has begun proceedings in the Supreme Court of New South Wales against former MD Marc Flory, the firm announced on Wednesday. The litigation, which also included other unnamed parties, related to “alleged breaches of duties” while Flory was a director of the company. 

SRA to build pilot germanium, gallium recovery plant

By: Liezel Hill     23rd July 2008 Toronto-based Strategic Resource Acquisition (SRA) plans to complete a pilot plant early next year to recover germanium and gallium from the zinc leachate produced by smelting concentrate at its Mid-Tennessee zinc mine, in the US. The firm has completed a positive scoping study into the... 

Australia’s Ampella boosts Burkino Faso gold holdings

By: Chanel de Bruyn     21st July 2008 ASX-listed gold and zinc exploration company Ampella Mining has signed a memorandum of understanding to acquire a 100% interest in five gold tenements in Burkina Faso, which would increase its prospecting area of gold and zinc bearing Birmian greenstone belts within the west African country, to 2... 

Lundin finds new zinc/copper deposit at Portugal mine

By: Liezel Hill     17th July 2008 Base-metals miner Lundin Mining has discovered a new zinc/copper deposit at its Neves-Corvo mine, in southern Portugal, the firm reported on Thursday. The new deposit has been named the Lombador East deposit and contains the thickest, highest-grade zinc intersections ever encountered at the... 

Perkoa zinc mine placed on care-and-maintenance

By: Mariaan Webb     17th July 2008 Burkina Faso’s largest mine development, the Perkoa zinc mine, as been put on care-and-maintenance, after its owner, Aim Resources, could not secure funding for the project. Aim Resources, headquartered in Sydney, attributed its funding woes to the current zinc prices and forecasts, which made... 

Xstrata, Teck Cominco close Western Australia base-metals mine

By: Liezel Hill     15th July 2008 Operations at Teck Cominco and Xstrata's jointly owned Lennard Shelf Pillara mine, in Western Australia, will cease by early August, after plummeting zinc and lead prices and rising costs made the mine uneconomic, the companies announced on Tuesday. A stronger Australian dollar had also taken... 

Baja Mining sells 30% of its stake in Mexican subsidiary

By: Leandi Kolver     11th July 2008 Vancouver-based Baja Mining Corporation has sold 30% of its interests in its Mexican subsidiary, Minera y Metalurgica del Boleo S.A. de C.V. (MMB), which is currently constructing a mining and milling facility in Santa Rosalia, Mexico, to a consortium of Korean companies led by the Korean... 

Canadian explorer sues Xstrata over Ontario prospect

By: Liezel Hill     9th July 2008 TSX-listed Opawica Explorations has filed an action in the Ontario Superior Court of Justice against Xstrata Copper Canada, over a dispute between the two companies relating to their jointly-owned Chance property, in northern Ontario, Canada. Opawica, which is also claiming damages, legal costs... 

Toronto-, London-listed company charters specialist mining vessel for project off Papua New Guinea

By: Irma Venter     4th July 2008 Toronto and London-listed Nautilus Minerals has moved one step closer to being the first company to commercially exploit the sea-floor for copper and zinc. 

Zim loses 500 skilled personnel, may not enrol new mining, engineering students

By: Oscar Nkala     20th June 2008 Zimbabwe’s mining sector has lost over 500 technically skilled and experienced personnel over the last year alone, a recent survey conducted by the Chamber of Mines reveals. 

Zinifex investors OK Oxiana merger, to create new zinc No 2

By: Liezel Hill     16th June 2008 The shareholders of Australian base-metals miner Zinifex on Monday voted to approve the takeover of the company by Oxiana, to create the newly-christened OZ Minerals, which will be the third-largest diversified miner in Australia, and the world's second biggest producer of zinc in... 

Copper and zinc hopeful to start scoping studies at Namibian targets in June

By: Chanel de Bruyn     13th June 2008 Aim-listed mining exploration group Kalahari Minerals on Friday said exploration activities at its copper and base-metal projects in Namibia had shown good drill results, adding that the projects were making good progress. The group had continued its exploration programme to define in excess of... 

Bacteria doing sensational 98% recovery job for Finland nickel entrant 

By: Martin Creamer     13th June 2008 Bugs are helping to a new Nordic nickel entrant to hit the recovery high spots and hold its share price high despite the world’s credit crunch. 

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