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Zinc News

Red Crescent close to offtake deal for Turkey project, sees revenue by yr-end

By: Liezel Hill     27th May 2011 TSX-listed Red Crescent Resources is “very close” to signing a concentrate offtake agreement with a top metals trader, CEO Alan Clegg said on Friday. The company plans to start up a small-scale processing plant at its 50%-owned Hakkari zinc project in Turkey during the third quarter, and could... 

Samrad designed to clean up South Africa’s minerals application process  

By: Jonathan Faurie     27th May 2011 The Department of Mineral resources has launched the South African Mineral Resources Administration (Samrad) online application system in an attempt to streamline the application process and to make it transparent.  

Lundin shares take a hit, keen to get down to business

By: Liezel Hill     26th May 2011 Shares in Lundin Mining fell sharply on Thursday morning after the company said it had concluded a strategic review and would not pursue any of the proposals received from potential buyers of the group or its assets. The firm received a “balanced” mix of interest in its assets in Europe and the... 

Breakwater still looking for deals

By: Liezel Hill     12th May 2011 Canadian base-metals producer Breakwater Resources continues to look “very hard” for acquisitions but also sees opportunities to expand around its existing operations, CEO David Petroff said on Thursday. Breakwater produces zinc, copper, lead and gold from mines in Canada, Chile and Honduras and... 

Teck rises on earnings, outlook

By: Liezel Hill     19th April 2011 Shares in Teck Resources rose almost six percent on Tuesday, after the company reported strong first-quarter results and said it expects coal sales should increase over the course of this year and into 2012. Teck said late on Monday that it had more than doubled first-quarter adjusted earnings... 

Hecla halts Lucky Friday amid search for missing miner

By: Liezel Hill     18th April 2011 US-based Hecla Mining has stopped mining operations at its Lucky Friday mine, in Idaho, as rescue teams hunt for a miner who has been missing since a fall of ground accident in a stope on Friday. Hecla said it does not know how long the rescue effors will continue nor whether production guidance... 

Coeur, Pan American rise after Thursday declines

By: Liezel Hill     15th April 2011 Shares in Coeur d'Alene Mines and Pan American Silver both rose on Friday, clawing back some of the losses from a day earlier when the stocks rose on concern that the Bolivian government could expropriate mining operations. Coeur said in a statement that its local subsidiary had been assured by... 

Group completes significant base metals contracts

By: Dimakatso Motau     15th April 2011 Process plants and mining solutions supplier Manhattan Corporation says the Group has completed various contracts in the base metals, precious metals and minerals sectors in the past year, and is focussed on continuing to develop its business partner relationship with its customers in the year... 

Pan American Silver seeks answers in Bolivia, shares fall

By: Liezel Hill     14th April 2011 Vancouver-based Pan American Silver is trying to get answers from Bolivian officials, after media reports that the government may rescind control of privately-held mining concessions. President Evo Morales' government could target contracts for operations including Pan American's San Vicente... 

First concrete poured at Baja's Boleo project

By: Liezel Hill     12th April 2011 Vancouver-based Baja Mining has poured the first concrete at its Boleo copper/cobalt/zinc project in Baja California and will begin surface mining at the site during the second quarter, the company said in a statement. More than 150 full-time employees have been hired through Baja's Mexican... 

Wits first-year mining students pass rate improves from 38% to 42%

By: Jonathan Faurie     8th April 2011 After a disappointing 2009 end-of-year examination period, which saw only 38% first-year students total of 223, at the School of Mining Engineering at the University of the Witwatersrand, progress from first to second year, the school reports some improvement following the 2010 year end... 

Lawyer says changes brought about by revised Mining Charter pose challenges for the industry

By: Jonathan Faurie     8th April 2011 Although there is significant consensus that the new approach towards black economic empowerment investment within the mining industry has merits. The implementation of the 26% ownership for life requirement will expose serious pitfalls within the industry.  

Independence declares Jabiru offer unconditional

By: Esmarie Iannucci     4th April 2011 ASX-listed Independence Group on Monday declared its takeover offer for fellow-listed Jabiru Metals unconditional, after acquiring a 60,56% shareholding in the company. Gold and nickel-focused Independence is offering one of its own shares for every eight Jabiru shares, valuing the stock at... 

Companies holding back on projects requiring long lead times for capital equipment

By: Jonathan Faurie     25th March 2011 Despite signs pointing towards a global recovery in commodity markets and demand, South African gold mining company Wits Gold reports concerns regarding short lead times for capital equipment were still prevalent at the recently held Prospectors and Developers Association of Canada (PDAC)... 

Teck cuts 2011 copper, coal outlook, but 'minimal' impact from Japan quake

By: Liezel Hill     23rd March 2011 Teck Resources has lowered its sales estimates for both copper and coal this year, citing difficult weather conditions, operational difficulties and a labour dispute. But the company said the recent earthquake and tsunami in Japan should have only “minimal” effect on shipments of copper, coal... 

Xstrata announces Australia mine expansion, to upgrade smelters

By: Esmarie Iannucci     11th March 2011 The zinc division of diversified miner Xstrata on Friday announced it would invest A$900-million to double capacity at its McArthur River base-metals mine in Australia’s Northern Territory and increase capacity at three European and Canadian smelters. Boosting smelter capacity would create a new... 

HudBay looking for partners on Guatemala nickel project

By: Liezel Hill     11th March 2011 HudBay Minerals has begun looking for partners to participate in developing its Fenix nickel project in Guatemala and expects to have some news towards the end of this year, CEO David Garofalo said on Thursday. The company completed an updated feasibility study on the project early this year and... 

HudBay profit boosted by metals prices

By: Liezel Hill     10th March 2011 Toronto-based HudBay Minerals earned $24,5-million in the fourth quarter of 2010, compared with $7,2-million a year earlier, after higher metals prices more than offset the effects of lower sales volumes and a stronger Canadian dollar, the company said on Wednesday. Profit was also affect by... 

Teck sees start of 'structural deficit' for zinc

By: Liezel Hill     7th March 2011 Signs are emerging of a global shortage of zinc concentrates, as refining capacity increases at a faster rate than mine supply, Teck Metals market research manager Andy Roebuck said on Sunday. “We think this is the start of what's been happening in copper, where you've got a structural deficit... 

Breakwater targets M&A sooner than later as competition heats up

By: Liezel Hill     25th February 2011 Canadian base-metals miner Breakwater Resources realises it needs to move quickly in its bid to acquire another mine or project, as asset prices are only going to get pricier as time goes by, a top executive at the company said on Friday. Breakwater has said previously it is actively looking for... 

Inmet Q4 profit rises 61%

By: Liezel Hill     24th February 2011 Toronto-based Inmet Mining earned C$144,5-million in the fourth quarter, an increase of 61% compared with C$89,8-million in the same period a year earlier, thanks to higher copper and gold prices in the quarter. Revenue rose 9% year-on-year, to C$318,3-million, Inmet reported on Wednesday. 

Teck says met coal will stay 'tight'

By: Liezel Hill     9th February 2011 Teck Resources, the second-biggest producer of seaborne hard-coking coal, expects markets for the steelmaking ingredient will remain tight this year, CEO Don Lindsay said on Wednesday. But he also commented that the company continues to struggle with weather-related rail capacity constraints,... 

Teck Q4 adjusted profit up 76%

By: Liezel Hill     8th February 2011 Teck Resources increased its fourth-quarter adjusted earnings by 76%, to C$548-million, last year, helped by higher commodity prices and increased copper and coal output. Quarterly revenue rose 27%, to a record C$2,8-billion, the group said. Including a C$289-million after-tax charge related... 

Sterlite buys Anglo’s SA zinc assets for $348m, Lisheen deal soon

By: Petronel Smit     7th February 2011 Indian metals and mining company Sterlite Industries has confirmed the completion a $348-million acquisition for a 74% interest in the South African zinc producer Black Mountain Mining from Anglo American. NYSE-listed Sterlite, which is part of London-listed Vedanta Resources, reported that the... 

Xstrata coal output down on weaker SA, Australia production

By: Petronel Smit     1st February 2011 London-listed diversified miner Xstrata said on Tuesday that its coal output had dropped 6% last year, as it produced less thermal coal at its operations in Australia and South Africa. Xstrata produced 79,9-million tons of coal, compared with the 84,7-million tons it produced in 2009. The... 

Mirabela beats FY nickel output guidance

By: Esmarie Iannucci     27th January 2011 ASX- and TSX-listed base-metals-miner Mirabela Nickel produced 3 676 t of nickel in concentrate in the final quarter of 2010, taking its full-year production to 10 375 t, which is above its guidance. Mirabela, which owns the Santa Rita operation in Brazil, produced 980 t of copper in concentrate... 

Aviva strikes high grade copper/zinc in Kenya prospect 

By: Esmarie Iannucci     27th January 2011 The share price of ASX-listed Aviva Corporation climbed 18% on Thursday on the news that drilling at the Bumbo base-metals prospect, in Kenya, had returned high-grade copper/zinc/silver results. Shares were trading at around A$0,26 a share from an opening price of A$0,22 a share. 

Vena to raise funds, mulls options for uranium assets

By: Liezel Hill     25th January 2011 Vena Resources said on Monday it will sell shares and warrants to help fund development of its base-metals projects in Peru, and is reviewing strategic options for its uranium assets. Shares in the firm jumped 7,8%, to C$0,55 apiece by 15:59 in Toronto. 

BHP iron-ore output hits record, but coal suffers from floods

By: Esmarie Iannucci     19th January 2011 Diversified mining group BHP Billiton has set several production records for the second quarter ended December, with iron-ore leading the pack, but heavy rain and flooding in Australia slashed its metallurgical coal output. The world’s largest miner boosted its iron-ore production to... 

Trevali, Kria agree on merger

By: Liezel Hill     16th December 2010 Canadian base-metal mine developers Trevali Resources and Kria Resources have agreed to a merger, the firms announced on Thursday. Trevali has projects in Peru, while Kria is developing assets in Canada's New Brunswick province.  

HudBay forecasts similar output levels in 2011

By: Liezel Hill     13th December 2010 Toronto-based HudBay Minerals expects production of zinc, copper and precious metals will be similar in 2011 compared with this year, the firm said on Monday. Lower output from the ageing Trout Lake mine will be offset by a full year of production at the Chisel North operation, which only... 

Breakwater to raise C$30m in bought deal

By: Liezel Hill     8th December 2010 TSX-listed Breakwater Resources plans to sell shares in a bought-deal financing to raise C$30-million, the company said on Monday. The funds will be used for general corporate purposes, including spending required to restart operations at Breakwater's Langlois mine in Quebec. 

Mount Isa wins Australian minerals export award

By: Esmarie Iannucci     2nd December 2010 Diversified miner Xstrata’s Mount Isa mines in Queensland has won the 2010 Australian Export Award in the Minerals and Energy category in recognition of its 22% increase in exports. During the 2010 financial year, the Mount Isa operation exported A$2,3-billion worth of product.  

Woulfe ready to move quickly on tungsten mine after Korea Zinc deal

By: Liezel Hill     25th November 2010 Woulfe Mining, which agreed this week to sell shares in itself and two projects to Korea Zinc in return for project financing, expects to have a feasibility study ready by mid-2011 on its flagship tungsten/molybdenum asset, CEO Brian Wesson told Mining Weekly Online. The company expects to be... 

Alexco commissions Bellekeno mill

By: Liezel Hill     19th November 2010 Vancouver-based Alexco Resource Corp has begun producing silver/lead and zinc concentrates from its Bellekeno mine, in Canada's Yukon Territory, and is working on optimising recoveries and efficiencies, the firm said on Friday. The company started moving low-grade material through the mill but... 

Nyrstar meets upstream goals with Farallon takeover

By: Liezel Hill     17th November 2010 Top zinc producer Nyrstar is making good on a promise to improve its upstream integration with the proposed acquisition of Canada's Farallon Mining, CEO Roland Junck said on Tuesday. Farallon's main asset is the Campo Morado property in Mexico, where it operates the G-9 zinc/copper/gold/silver... 

Nyrstar to buy Farallon Mining

By: Liezel Hill     15th November 2010 Vancouver-based Farallon Mining has agreed to support an all-cash takeover offer worth about C$409-million from Belgium's Nyrstar, the companies announced on Monday. Nyrstar will offer C$0,80 a share for Farallon, which represents a 32% premium to the company's 20-day volume-weighted average... 

Capstone nearing completion on Kutcho prefeas

By: Liezel Hill     10th November 2010 Vancouver-based Capstone Mining expects to complete a prefeasibility study late this year or early in 2011 for the copper/zinc project in British Columbia, CEO Darren Pylot said on Wednesday. The company does not expect that the size of the project will trigger a full federal environmental... 

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