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Zinc News
President's correct, S Africans need to act together to realise economic opportunities – Baissac 
By: Martin Creamer 14th May 2019 President Cyril Ramaphosa is correct in stating that South Africans need to act together with urgency and boldness if they are to realise the economic opportunities before them, Eunomix CEO Claude Baissac said on Tuesday. Baissac, who was speaking to Mining Weekly Online following the finding of... →
Sierra Metals still expects to meet 2019 guidance despite strike
By: Marleny Arnoldi 14th May 2019 Despite losing 12 days of production to an illegal strike at the Yauricocha mine, in Peru, and reporting a slower-than-expected ramp up of throughput at its Mexico mines, Sierra Metals still expects to achieve its 2019 production guidance, CEO Igor Gonzales said on Tuesday. The TSX-listed miner... →
LME appoints first female chairperson in its history
By: Reuters 10th May 2019 The London Metal Exchange (LME) has appointed Standard Chartered and ConocoPhillips board member Gay Huey Evans – the first female chairperson in its 142-year history. Evans, who is also on the board of Itau BBA International and has previously worked at Citi, Barclays Capital and the UK's... →
Worley creating a force for the future of resources and energy
By: Martin Creamer 7th May 2019 Following the announcement in October 2018 of WorleyParsons' binding offer for Jacobs' Energy, Chemicals and Resources, the combined new entity has come together under a new brand – Worley – involving 57 600 people across 51 countries. While financially a $3.2-billion acquisition, operationally... →
From left, Krish Iyer, president Middle East Africa, Francois Bosch, business development (BD) sales manager, East Africa, Denver Dreyer, senior vice president Mining Minerals and Metals (MM&M), Europe Middle East Africa, Ian Davies, senior vice president, BD & Growth MEA, Ryan Froude, operations manager, East Africa, Robert Hull, vice president, MM&M, Africa, and Ed Hanbidge, vice president, Energy Chemicals and Services, Southern and Eastern Africa.
Orion readies local community for development of Prieska project
By: Simone Liedtke 6th May 2019 Dual-listed Orion Minerals has commissioned introductory mining familiarisation short courses within the Siyathemba municipality, in the Northern Cape, in line with its commitment to ensuring local communities’ benefit from its ventures. The programme is aimed at raising public awareness of the... →
Michigan judge upholds Back Forty permit – Aquila
By: Creamer Media Reporter 6th May 2019 Project developer Aquila Resources on Monday announced that the state of Michigan had issued a final decision and order upholding the mining permit for its Back Forty zinc and gold project. The Menominee Indian Tribe of Wisconsin and an individual owing property near the project site in 2017... →
Arctic nations to meet amid tensions over environment, resources
By: Reuters 6th May 2019 Top diplomats from the US, Russia and other nations which border the Arctic meet in Finland on Monday to discuss policies governing the polar region, as tensions grow over how to deal with global warming and access to mineral wealth. Countries have been scrambling to claim territory or, like... →
Hudbay and Waterton settle board differences
By: Marleny Arnoldi 3rd May 2019 TSX-listed Hudbay Minerals announced on Friday that it had reached an agreement with shareholder Waterton Global Resource Management and that the two parties would put forward a slate of 11 board members for election at the upcoming shareholders meeting. The slate includes chairperson Alan Hibben... →
Glencore lowers full-year copper output guidance
By: Tasneem Bulbulia 30th April 2019 Diversified miner Glencore has lowered its full-year production guidance for copper to 1.46-million tonnes, compared with the previously guided 1.54-million tonnes. The group, led by CEO Ivan Glasenberg, on Tuesday reported that its own sourced copper production for the first quarter of this year... →
Ivan Glasenberg
Glass Lewis supports three dissident nominees at Hudbay Minerals
By: Bloomberg 29th April 2019 A prominent shareholder advisory firm has recommended investors partially support efforts from one of Hudbay Minerals Inc.’s largest investors to revamp the board, including withholding their votes for the company’s chairperson Alan Hibben. Glass Lewis urged investors to support three nominees... →
Positive start to the year for Canadian miners
By: Creamer Media Reporter 26th April 2019 Following several quarters of declines, the Canadian Mining Eye index increased by 5% in the first quarter of 2019. The index, which tracks the mining sector performance of 100 TSX- and TSX-V-listed midtier and junior companies with market capitalisations falling between C$158-million and... →
Ivanhoe to fast-track Southern Africa mines as Citic invests another C$612m
By: Mariaan Webb 26th April 2019 Canada-based Ivanhoe Mines will fast-track production at its southern African projects, after Chinese shareholder Citic Metal invested another C$612-million, pushing the company’s cash position to C$1.3-billion – about double what it needs to finance its share of the construction costs for the... →
Ivanhoe Mines CEO Robert Friedland
Lundin net earnings down 30%
By: Mariaan Webb 25th April 2019 The first-quarter earnings of TSX- and Nasdaq Stockholm-listed Lundin Mining fell by 30% to $60.9-million, the Canadian base metals miner reported on Wednesday. The first-quarter earnings include a loss on Lundin’s equity investment in Finnish business Freeport Cobalt of $11.9-million, which was... →
South Sudan invites investment in agriculture, mining, oil
By: Marleny Arnoldi 24th April 2019 Since its official independence from Sudan in 2011, South Sudan has ripened the environment for investment in the country, which was apparent when the country’s Ministers on Wednesday met with South African investors and businesspersons during a roadshow, in Sandton, to discuss investment... →
Global Witness welcomes LME’s new responsible sourcing rules
By: Marleny Arnoldi 23rd April 2019 International nongovernmental organisation (NGO) Global Witness has welcomed the London Metal Exchange’s (LME’s) new responsible sourcing rules, which were published for public consultation on Tuesday. The exchange’s responsible sourcing roadmap is intended for LME-listed brands and builds on a... →
Canadian miner finds new high-grade zinc and gold deposit
19th April 2019 Canadian mining company Hudbay Minerals has announced the discovery of 35.6 m of high-grade mineralisation including both zinc-rich massive sulphides and gold. The deposit is located between the old Chisel North mine and the producing Lalor mine in Manitoba, Canada, at a down hole depth between... →
Zinc inventories continue to fall
By: Cameron Mackay 19th April 2019 The poor performance of Chinese smelters and the closure of major zinc mines in the past two years have led to global and refined zinc inventories continuing to fall, says international commodities consultancy Core Consultants MD Lara Smith. “Many smelters last year chose not to buy expensive... →
REDUCED OUTPUT Many Chinese smelters last year chose not to buy expensive concentrate and instead cut down on consumption rates and production
Orion reawakening geological giant in Northern Cape
By: Martin Creamer 18th April 2019 Three years ago, Orion Minerals was trading at an eighth of an Australian cent a share. It had a market capitalisation of $4-milllion and set out to find something that could be turned into a mine. The good news is that the company found that opportunity in South Africa, and its share price has... →
Hudbay says largest shareholder to vote for its nominees
By: Mariaan Webb 18th April 2019 TSX- and NYSE-listed Hudbay Minerals said on Wednesday that its largest shareholder, Letko, Brosseau & Associates, had confirmed that it would vote for the company's director nominees at the upcoming shareholders meeting. Letko, Brosseau & Associates exercises investment control or direction... →
Eager black investors fund premium-priced opportunity in zinc, copper
By: Martin Creamer 17th April 2019 Black investors have self-funded the purchase of shares at a premium price in the fast-tracked redevelopment of the Prieska zinc and copper mine in the Northern Cape, which has a three-year payback and a minimum mine life of ten years. The $8-million equity capital raising by Orion Minerals,... →
Orion Minerals’ ‘meet-the-media’ attendees were from left: Jowell Tobias, Godfrey Gomwe, Billy Mawasha, Michelle Jenkins, Errol Smart, Nelson Mosiapoa, Tom Borman, Sharon Matthews and Roger Matthews.
Galileo raises £500 000 for Zambia zinc project
By: Creamer Media Reporter 17th April 2019 Aim-listed Galileo Resources has raised £500 000 through the placing of 100-million new shares at a price of 0.5p a share. The proceeds will be used for general working capital, as well as for advancing its Star Zinc project, in Zambia. Specifically, the company plans to use the proceeds to... →
First Majestic reports solid start to 2019
By: Creamer Media Reporter 17th April 2019 Mexico-focused miner First Majestic Silver has had a solid start to 2019, with its first-quarter production reaching 6.3-million silver-equivalent ounces (SEOs). This compares with 3.9-million SEOs in the same quarter of 2018, and 6.5-million SEOs in the fourth quarter of last year. →
Orion Minerals, PTM make headlines
17th April 2019 This week Mining Weekly editor Martin Creamer unpacks the developments at Orion Minerals and Platinum Group Metals. →
Waterton launches legal action against Hudbay
By: Creamer Media Reporter 16th April 2019 Toronto-based investment firm Waterton Global Resource Management, which is waging a proxy contest against Hudbay Minerals, has started legal proceedings against the TSX- and NYSE-listed miner in the Ontario Superior Court. According to a statement from Hudbay, Waterton is alleging that the... →
Flood-damaged Mt Isa zinc railway to reopen April 29
By: Reuters 16th April 2019 A railway that carries zinc from major producers such as Glencore across Australia's Outback is expected to reopen this month, Queensland's Transport Minister said on Tuesday. "Every resource has been made available to accelerate recovery works," Mark Bailey said in a statement. →
Orion clinches potent new-style empowerment deal
By: Martin Creamer 16th April 2019 Sydney- and Johannesburg-listed exploration and mining development company Orion Minerals has found a formula to achieve empowerment that puts all shareholders at full participation and contribution. “What we’ve arrived at is a fantastic win-win scenario,” an overjoyed Orion CEO Errol Smart told... →
Strike ends at Sierra Metals’ Yauricocha mine
By: Creamer Media Reporter 15th April 2019 A near-month-long labour strike over contractor changes at the Yauricocha mine, in Peru, ended at the weekend. Canada-based mining company Sierra Metals has said that an agreement was reached whereby no contractors dismissed as part of the contractor change will be reinstated, which was the... →
Exxaro reaffirms health, safety goals at Sustainability Summit
By: Simone Liedtke 12th April 2019 Empowered diversified miner Exxaro Resources on Friday reaffirmed its safety, health and environmental goals at its yearly Sustainability Summit, held in Lephalale, Limpopo. The summit is being held soon after the group celebrated a 24-month fatality-free milestone. →
Orion Minerals halts securities trading at JSE as it prepares for capital raising
By: African News Agency 11th April 2019 Australian miner Orion Minerals on Thursday requested an immediate trading halt be placed on its securities in the Johannesburg Stock Exchange (JSE) as it anticipates making a material announcement in relation to a proposed capital raising. Orion said the trading halt was requested until the... →
Good start to 2019 for Central Asia Metals
By: Creamer Media Reporter 10th April 2019 London-listed Central Asia Metals Limited (CAML) has had a good start to the year at its Kounrad and Sasa operations, with the company on Wednesday declaring that it was on track to meet its full-year guidance for copper, zinc and lead. The Kounrad dump leach, solvent extraction and... →
Trevali appoints Vale COO Grimbeek its new CEO
By: Creamer Media Reporter 9th April 2019 Base metals miner Trevali Mining has named mining engineer Ricus Grimbeek its president and CEO to take over from Mark Cruise on April 23. Grimbreek, who holds a degree from South Africa’s University of Pretoria, is a mining executive with nearly three decades of experience in the resources... →
Nigeria suspends mining in Zamfara state after banditry surges
By: Reuters 8th April 2019 Nigeria has suspended mining in the restive northwestern state of Zamfara, a presidential aide and the police chief said on Sunday, amid concerns that illegal miners were connected to a surge in banditry. The suspension underscores the breakdown of security in a part of the country where the... →
Jubilee set to acquire Sable Zinc refinery
By: Nadine James 22nd March 2019 Dual-listed Jubilee Metals on Friday announced that it has executed a share purchase agreement for the acquisition of the Sable Zinc refinery in Kabwe, Zambia. The refinery is situated immediately adjacent to the large stockpiles of zinc, lead and vanadium that Jubilee has contracted from BMR Group. →
Kinross acquires 9.7% of Wolfden Resources
By: Marleny Arnoldi 20th March 2019 TSX-V-listed Wolfden Resources’ share price shot up 5% to C$0.18 apiece, following its announcement that Kinross Gold would take a 9.7% stake in the junior miner. The subscription agreement entails a nonbrokered private placement of about 12.5-million common shares of Wolfden at a price of... →
Vedanta to shut Namibian zinc refinery for five weeks
By: Reuters 14th March 2019 Vedanta Zinc International, a unit of diversified miner Vedanta Resources, said on Thursday it would close its Skorpion Zinc Refinery in Namibia for five weeks after a strike by its mining contractor depleted stocks. "During the strike period, the Skorpion Refinery continued to run which led to... →
Toral scoping study economics announced
By: Simone Liedtke 12th March 2019 The initial economics of Toral lead/zinc project, in north-west Spain, are robust, with a scoping study calculating a $110-million net present value, at an 8% discount rate, and an internal rate of return of 24.4%, dual-listed Europa Metals announced this week. The scoping study estimated... →
Glencore signs annual zinc treatment charges deal with Canada's Noranda
By: Reuters 11th March 2019 Global trader and miner Glencore has struck a deal with its Canadian subsidiary Noranda Income Fund on the terms of zinc treatment charges for the coming year, but did not disclose the fees, the fund said on Friday. Noranda, whose operations include a zinc processing facility in Quebec, last... →
Zinc demand, production to increase over next four years
By: Rebecca Campbell 8th March 2019 Data and analytics company GlobalData has forecast that worldwide zinc production will grow at a compound annual growth rate of 3.8% between this year and 2022. This growth will be underpinned by production increases and the opening of new mines, in Canada, China, India, Kazakhstan and Mexico,... →
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