R/€ = 17.7961 Change: 0.0000
R/$ = 17.0878 Change: 0.0742
Au 1754.60 $/oz Change: 0.00
Pt 984.00 $/oz Change: 0.00

Zinc News

Kagara says Q1 output underpins new 5-yr growth strategy

By: Esmarie Iannucci     11th October 2011 Base metals producer Kagara boosted its first-quarter zinc, lead and nickel output, while reducing its costs, the miner, which recently unveiled a five-year production growth plan, reported on Tuesday. Zinc production rose by 13% quarter-on-quarter to 17 790 t in the three months the end of... 

Exxaro’s end to local zinc refining ‘clearly unfortunate’ – zinc association

By: Martin Creamer     10th October 2011 The end that black-controlled JSE-listed Exxaro Resources will put to local zinc refining by December 31 is “clearly unfortunate”, says International Zinc Association of Southern Africa regional director Rob White. The JSE-listed Exxaro put out a statement on Monday saying that its board of... 

Cashed-up HudBay to weather commodity weakness, says analyst

By: Matthew Hill     6th October 2011 Diversified miner HudBay Minerals could more than triple copper-equivalent output to 280 000 t/y as three new projects start up, RBC Capital said on Thursday. Analyst Patrick Morton said in a note the TSX-listed company had not only enough cash on its books to fund this growth, but also to... 

Union agrees new deal at Xstrata's Kidd site

By: Reuters     22nd September 2011 Xstrata's copper division said union members at its Kidd Metallurgical Site in Canada have ratifed a new three-year wage deal. "Xstrata Copper Canada is pleased to announce that members of CAW-Local 599 have ratified a new three-year collective agreement at its Kidd Metallurgical Site in... 

China base metals demand growing 10% more than GDP

By: Reuters     21st September 2011 Demand growth for base metals in China is exceeding its GDP growth rate by 10 percent, and will keep growing, Fan Shunke, the president of China Non-ferrous Techno-Economic Research Institute said on Wednesday. "Base metals demand is about 10% higher than the GDP growth rate," Fan, who is also... 

Anglo American in thick of great Alaskan Pebble mine debate

By: Martin Creamer     16th September 2011 ANCHORAGE, Alaska – That Anglo American is in the thick of a great Alaskan mining debate was quickly apparent upon my arrival here, with advertisements in Alaskan business magazines providing ready affirmation. At issue is whether or not the South African-created but London-domiciled diversified... 

Teck to fire up coal output beyond 30Mt by 2013

By: Matthew Hill     10th September 2011 Canada’s biggest diversified miner, Teck Resources, aims to produce metallurgical coal at a rate of more than 30-million tons yearly by 2013, as it expands current operations and reopens a shuttered mine in British Columbia, the company said on Friday. Corporate development VP Ron Vance said the... 

Market analyst predicts financial market slump that will wreak havoc on commodities

By: Jonathan Faurie     2nd September 2011 Global market analyst Natixis Commodities Markets (NCM) warns of a ‘rocky road’ ahead for the global financial markets, which could wreak havoc on commodities as demand will slow.  

Trevali to increase financing, shares rise

By: Matthew Hill     26th August 2011 Canadian junior Trevali Mining on Friday said it completed a $10-million private placement to fund the development of its Santander project in Peru. The South American country’s Kallpa Securities acted as the agent for the offering. 

Selwyn ditches share sale in favour of debt

By: Matthew Hill     22nd August 2011 Wobbly markets have prompted TSX V-listed Selwyn Resources to dump a previous plan to sell 24-million shares and rather raise $30-million in debt, it said on Monday. The funding will come in the form of senior secured bonds, the proceeds of which will go to reopening the shuttered ScoZinc Mine... 

Red Crescent outlines grand designs for Turkish projects

By: Matthew Hill     17th August 2011 Turkey focused junior Red Crescent Resources (RCR) hopes to sign an early agreement with a major mining company to take a stake in a planned $6-billion metals processing facility in the Eurasian country, chairman and CEO Alan Clegg said on Tuesday. Currently there are three parties involved in... 

Monument to decide by 2013 on new Malaysian mine

By: Matthew Hill     15th August 2011 Vancouver-based Monument Mining, which agreed to buy the Malaysian Mengapur polymetalic project for $50-million in May, hopes to reach a construction decision by the end of 2013, CEO Robert Baldock said on Friday. While Normet Engineering completed a feasibility study on Mengapur in 1990 for the... 

Exxaro closes zinc refinery as it starts divestment from base metals

By: Jonathan Faurie     12th August 2011 Hours after announcing the closure of its Gauteng Zincor refinery – a first step in its overall divestment away from base metals, diversified miner Exxaro reports the capital outlay that was funding its base metals projects will now be spread over the company’s remaining areas of interest, namely... 

Economic jitters haven't frozen mining credit - HudBay's Garofalo

By: Matthew Hill     10th August 2011 As markets continued to sway on Wednesday, base metals producer HudBay Minerals CEO David Garofalo assured investors that there had been no credit freeze for mining companies with good projects. His company may raise $400-million to $500-million in debt to build the Constancia copper mine in... 

Pilot Crushtec reaping fruits of maintaining ‘cool heads’ during 2008/9 financial crisis

By: Jonathan Faurie     5th August 2011 South African comminution engineer Pilot Crushtec reports that ‘cool heads’ during the 2008/9 global financial crisis are paying dividends now as the demand in Africa for Pilot Modular plants and equipment is vast and far reaching.  

Lundin's Conibear running the firm as though permanent CEO

By: Matthew Hill     3rd August 2011 Lunding Mining interim CEO Paul Conibear said on Wednesday he was running the company as though he was permanently in the post, though the board had yet to appoint a permanent CEO. The TSX-listed copper and zinc producer said in May it would not pursue any takeover proposals after abandoning... 

Exxaro announces planned closure of Zincor, warns of job losses 

By: Jonathan Faurie     29th July 2011 Diversified mining group Exxaro warned of job losses on Friday, as it announced that the Zincor refinery in Gauteng would close by the end of September. Exxaro would permanently cease production of zinc at the refinery in Springs, as it had proven to be “unsaleable to potential investors”, CEO... 

Teck profit boosted by coal, copper prices

By: Liezel Hill     29th July 2011 Teck Resources' second-quarter adjusted net earnings rose 91% compared with a year earlier, after higher coal and copper prices offset lower coal sales, higher costs and a strong Canadian dollar. Adjusted profit for the second quarter was $663-million, up from $347-million a year ago. Including... 

Inmet cuts 2011 guidance, Oks Panama project development

By: Liezel Hill     26th July 2011 Inmet Mining's second-quarter profit fell 18% compared with a year earlier, after higher metals prices and additional earnings from a new mine in Spain were offset by lower copper sales volumes, mainly related to shipment timing. Inmet said late on Monday that it has reduced its full-year... 

Xstrata approves A$246m Queensland zinc project

By: Esmarie Iannucci     26th July 2011 Diversified miner Xstrata has given the green light for the A$246-million development of the Lady Loretta zinc/lead/silver project, in Queensland, the company announced on Tuesday. Work would start immediately to develop the decline and underground services and surface infrastructure of the... 

Lundin cuts 2011 guidance for copper, zinc output

By: Liezel Hill     22nd July 2011 Shares in Toronto-based Lundin Mining fell on Friday morning, after the company lowered its production forecasts for copper and zinc in 2011, citing weaker-than-expected second-quarter output at the Neves Corvo mine in Portugal. Lundin now expects to produce 75 400 t of copper and 112 000 t of... 

Copper market sees surplus in Jan-May 2011-WBMS

By: Reuters     20th July 2011 The global copper market had a surplus of 74 100 tonnes in the January to May 2011 period compared with a surplus of 54 000 tonnes for the whole of last year, the World Bureau of Metal Statistics said on Wednesday. "Global consumption for January to May 2011 was 7.878 million tonnes and the 2010... 

Wits school of mining engineering making headway in improving ‘already high’ standards of education

By: Jonathan Faurie     15th July 2011 The Witwatersrand University (Wits) School of Mining Engineering reports that it is progressing well in achieving the ten strategic goals that it set for itself at the beginning of the year.  

Donner signs metals-purchase deal with Sandstorm

By: Liezel Hill     14th July 2011 Donner Metals has signed an agreement to sell half of its share of the copper, gold and silver produced at the Bracemac-McLeod zinc/copper mine to Sandstorm Metals and Energy, in return for $22.75-million in cash. Sandstorm will also buy a stake of about four percent in Donner for around... 

Mine development activities on target at Perkoa

8th July 2011 Development of the Perkoa zinc mine, in Burkino Faso, is on target, with construction progressing well and the delivery of the first of two mechanised drilling jumbos to replace hand drilling taking place. 

Scores of mining engineering students failing to graduate owing to lack of vacation training

By: Jonathan Faurie     8th July 2011 The University of Pretoria, one of South Africa’s three tertiary education institutions to offer a course in mining engineering, reports that there are a startling number of students across South Africa who potentially cant graduate owing to noncompletion of required vacation work.  

New Zambia mines chamber head concurs with State VP’s concerns about state of key sectors

By: Jonathan Faurie     8th July 2011 Newly elected President of the Chamber of Mines Zambia (CMZ) Emmanuel Mutati reports that the concerns voiced by Zambian VP George Kunda regarding the state of some of Zambia’s key industries are valid and real.  

Yukon court dismisses First Nation challenge to Selwyn project

By: Liezel Hill     6th July 2011 The Supreme Court of Yukon has dismissed an application by the Liard First Nation to quash, suspend or stay a decision document issued by the territory's government for Selwyn Resources' namesake project, the firm said on Wednesday. The decision document was the final step in the environmental... 

Red Crescent inks offtake, marketing pact for Turkey projects

By: Liezel Hill     6th July 2011 TSX-listed Red Crescent Resources has signed an offtake and marketing agreement with London-based Link Investment and Consulting, for all the company's attributable production of direct shipping ore and concentrates. Link, which specialises in nonferrous ore and concentrate trading, investment... 

HudBay to build new concentrator at Lalor, extends mine life

By: Liezel Hill     6th July 2011 HudBay Minerals now plans to build a new C$264-million concentrator and paste backfill plant at its Lalor project, in Manitoba, rather than refurbishing an existing facility at the nearby Snow Lake operation. Because of the size of the Lalor deposit, the company will build a 4 500 t/d... 

Shabangu to address responsible mining leadership forum

By: Jonathan Faurie     1st July 2011 The Community Responsible Mining Initative (CRMI) which is responsible for organising the Community Responsible Mining Leadership Forum, to be held at the Sandton Sun on July 25 and 26, reports that this year’s event will feature high-profile keynote speakers, such as Mineral Resources Minister... 

Capstone announces initial resource for Cozamin footwall zone

By: Liezel Hill     20th June 2011 Vancouver-based Capstone Mining has unveiled a maiden resource for the Mala Noche footwall zone at its Cozamin mine, in Mexico, and plans to start a prefeasibility study in the third quarter of this year, the firm said on Monday. The footwall zone has measured and indicated resources of... 

Nyrstar agrees to buy Canada's Breakwater  

By: Liezel Hill     15th June 2011 Toronto-based Breakwater Resources, which has said for some time it was looking for acquisitions, has now itself become a target, the company announced on Wednesday. Belgian smelting group Nyrstar will offer C$7 a share, or around C$619-million, to buy Breakwater Resources, whose board has... 

Africa-focused Aussie explorer to drum up support for expansion plans at Zambia conference

By: Jonathan Faurie     10th June 2011 Africa-focused Australian exploration company Blackthorn Resources reports it is in a strong position to forge ahead with achieving first tonnage at its two African projects, and will be using the inaugural Zambian International Mining and Energy Conference to inform investors and drum up support... 

Top 40 miners' assets could top $1-trillion this year - PwC

By: Liezel Hill     7th June 2011 The top 40 mining companies in the world increased their total assets to $943-billion and could breach the $1-trillion level this year, PwC said in a report published on Tuesday. The increase is being driven by high levels of cash, and increased property and equipment on company balance sheets,... 

Zambia open for business despite political doubts

By: Jonathan Faurie     3rd June 2011 Despite the perception that the Zambian mining industry is overregulated, the Chamber of Mines of Zambia (CMZ) reports that this is not the case and hopes to showcase as much at the inaugural Zambian International Mining and Energy Conference (Zimec).  

Xstrata buys Nunavut exploration properties from Sabina Gold & Silver

By: Liezel Hill     2nd June 2011 Xstrata Zinc has agreed to buy two exploration properties in Nunavut from junior Sabina Gold & Silver, the two firms announced on Thursday. Xstrata will pay C$50-million and grant a silver royalty on future production from the projects, in exchange for the Hackett River and Wishbone properties.... 

EGM called to decide on Terramin board composition

By: Esmarie Iannucci     30th May 2011 Two shareholders of ASX-listed Terramin Australia have called an extraordinary general meeting (EGM) to remove the company’s MD and chairperson, as well as three members of its board. Terramin’s requisitioning shareholders Wendy Jackson and David Paterson have submitted the request to hold the EGM. 

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