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Zinc News

Matilda to start zircon production at Tiwi Island in Q2

By: Esmarie Iannucci     25th March 2010 Mineral sands developer Matilda Zircon was on track to start production at its Tiwi Islands zircon project, in the Northern Territory, by the second quarter. The construction of key mining and processing equipment at the site is now almost completed, with staff and equipment set to be mobilised... 

Xstrata reportedly eyeing Anglo's zinc assets

By: Martin Creamer     23rd March 2010 Diversified mining major Xstrata is looking at buying some of Anglo American's zinc assets, Xstrata Zinc CE Santiago Zaldumbide is quoted as saying. The Australian reports Zaldumbide as saying that Xstrata is particularly interested in Anglo's Lisheen zinc mine in Ireland, but is also... 

Xstrata hits back against negative environmental study  

By: Esmarie Iannucci     22nd March 2010 The Macquarie University on Monday noted that there was unequivocal evidence that the environmental lead source at Mount Isa, Queensland, is derived from mining and smelting activities in the area. The research demonstrates that the current educational advice given to Mount Isa residents to... 

Nyrstar improves offer for CBH Resources

By: Esmarie Iannucci     12th March 2010 Belgium's Nyrstar has upped its bid for Australian zinc and lead-miner CBH Resources, after its original bid was rejected in December. The world's biggest zinc producer increased its offer to A$0,19 a share, from the initial A$0,13 a share, after it had undertaken an “extensive” amount of work... 

HudBay in 'advanced' talks on copper conc sales  

By: Liezel Hill     5th March 2010 Toronto-based HudBay Minerals expects to make an announcement soon on a contract to sell copper concentrate produced at its Manitoba operations for smelting and refining, interim CEO Warren Holmes said on Thursday. HudBay has historically processed its own concentrate, but announced last year it... 

HudBay Q4 profit halved y-on-y

By: Liezel Hill     4th March 2010 Canadian base-metals producer HudBay Minerals earned C$7,3-million in the fourth quarter of 2009, compared with C$15,8-million a year earlier, the firm reported on Wednesday. Profit was negatively affected by lower sales of copper cathode, as well as some C$6,9-million in severance costs, HudBay... 

Glencore to complete Perkoa due diligence in coming weeks – Blackthorn

By: Loni Prinsloo     1st March 2010 ASX-listed Blackthorn Resources said on Monday that on-site construction activities during its Perkoa zinc project's care-and-maintenance period would shorten the start-up to production at the mine, once remobilisation began. The Australia-based company suspended mine development at the Perkoa... 

Breakwater Resources posts fourth-quarter profit

By: Liezel Hill     27th February 2010 TSX-listed Breakwater Resources earned C$5,4-million in the fourth quarter of 2009, compared with a net loss of C$53,5-million a year earlier, when it wrote down the value of its mining assets. Breakwater produces zinc, copper, lead and gold from mines in Canada, Chile and Honduras.  

Lundin eyes acquisitions, sees better internal growth prospects – CEO

By: Liezel Hill     26th February 2010 Canadian base-metals producer Lundin Mining has shifted its focus to pursuing growth opportunities, and is “very actively” assessing acquisition opportunities, but will likely get the best bang for its buck from expanding existing assets, CEO Phil Wright said on Thursday. Lundin owns the... 

Exxaro reports 31% drop in FY earnings

By: Creamer Media Reporter      25th February 2010 Diversified miner Exxaro Resources saw a 31% drop in headline earnings to R2,51-billion for the year ended December, 31, 2009, compared with headline earnings of R3,6-billion the year before. The group’s earnings were impacted on by a R1,44-billion impairment at its KZN Sands operation. 

Bisha likely cash flow positive in Q1 2011 - Nevsun

By: Liezel Hill     23rd February 2010 Canadian developer Nevsun Resources now expects its gold/copper/zinc project in Eritrea to be cash-flow positive as early as the first quarter of 2011, the firm revealed on Tuesday. Nevsun had originally arranged $235-million in debt for the project but, after ongoing delays in getting the final... 

HudBay's latest Lalor results 'better than expected'

By: Liezel Hill     23rd February 2010 Canada's HudBay Minerals has received more encouraging results from its Lalor mineral deposit in the Flin Flon greenstone belt, the company revealed on Monday. HudBay has said it plans to fast-track and prioritise plans to develop the Lalor project, located near the Chisel North mine, which... 

Lundin boosted copper reserves in 2009

By: Liezel Hill     22nd February 2010 Toronto-based Lundin Mining increased the copper reserves at both its Neves-Corvo and Zinkgruvan mines, in Portugal and Sweden respectively, the company reported on Monday. The firm also saw copper reserves and resources increase at its third core asset, the Tenke Fungurume mine, in the... 

Gold may average $950/oz this year - Natixis 

By: Liezel Hill     22nd February 2010 An average gold price of around $950/oz or even lower is possible this year if the global economic recovery gains pace, supporting conventional asset values and undermining assets like gold, which is seen as a store of value, London-based Natixis Commodity Markets said in a report on Monday.... 

Agnico-Eagle draws to end of marathon gold-mine building spree

By: Liezel Hill     18th February 2010 When Agnico-Eagle Mines pours the first gold this quarter at its new Meadowbank project, in Canada's Nunavut territory, the firm will mark the start-up of its fifth new mine in less than two years. While the company knew what it was getting into at the outset of the construction programme, it is... 

Hecla eyes big silver, small gold acquisition targets 

By: Liezel Hill     17th February 2010 US miner Hecla Mining will consider smaller, underground gold operations as potential acquisitions, but, when it comes to silver, it is all about “size and scale”, CEO Phillips Baker Jr said on Wednesday. After a difficult start to 2009, in the fourth quarter Hecla was able to repay the... 

Teck's Red Dog operations uncertain after latest appeal

By: Liezel Hill     17th February 2010 Teck Resources may have to curtail operations at its Red Dog zinc mine, in Alaska, after environmental and tribal groups appealed a key permit issued by the US Environmental Protection Agency. If the appeal results in permitting delays beyond May, the company will probably halt production at Red... 

'Good probability' Doe Run will restart Peru smelter in Q2

By: Liezel Hill     17th February 2010 Embattled Doe Run Peru will likely restart operations at its La Oroya zinc and lead smelter in Peru during the second quarter of this year, Pan American Silver CEO Geoff Burns said on Tuesday. Doe Run Peru's La Oroya smelter is one of the largest buyers of the company's copper concentrate... 

Adex sees interest grow in New Brunswick project 

By: Liezel Hill     13th February 2010 Canadian junior Adex Mining, which plans to produce tin, indium, zinc, and eventually molybdenum and tungsten, from its flagship New Brunswick property, is getting a lot of interest in all five metals from potential customers or partners in Asia, North America and Europe, CEO Errol Farr said on... 

Red Dog permit concerns hang over Teck

By: Liezel Hill     10th February 2010 Canada's Teck Resources warned on Tuesday that it could halt production altogether from its Red Dog zinc mine in Alaska as early as October, if a successful appeal was launched to stay the company's permits for an expansion at the operation. The company has secured almost all the approvals it... 

Teck may grow copper output 40% by 2012, sees deficit in medium term

By: Liezel Hill     9th February 2010 Vancouver-based Teck Resources expects to increase its production of copper by at least 40% through 2012, and could triple output of the industrial metal in the longer term, based purely on existing resources and projects, CEO Don Lindsay said on Tuesday. While metallurgical coal probably... 

Iron-ore would make sense for Teck, but not likely anytime soon - CEO

By: Liezel Hill     9th February 2010 It “makes sense” for Canadian diversified miner Teck Resources to consider a move into the iron-ore sector, CEO Don Lindsay commented on Tuesday, but he added that there is not much likelihood of any sort of deal in the near term. He also indicated that the company will only consider reinstating... 

Inmet posts Q4 profit on higher prices

By: Liezel Hill     9th February 2010 TSX-listed Inmet Mining earned C$89,76-million in the fourth quarter, compared with a net loss of C$32,5-million posted a year earlier, after copper and zinc prices rose and the company reduced operating costs. Sales for the quarter more than doubled year-on-year to C$290,57-million, compared... 

Teck earned C$411m in Q4, helped by base metals

By: Liezel Hill     9th February 2010 Vancouver-based Teck Resources posted a C$411-million net profit for the fourth quarter of 2009, compared with a C$607-million loss a year earlier, after higher base-metal prices offset weaker coal prices and the effects of a stronger Canadian dollar. Excluding some items, adjusted net earnings... 

Canadian union wants govt investigation of Xstrata closure

By: Liezel Hill     9th February 2010 The Canadian Auto Workers (CAW) union wants the government to investigate whether international miner Xstrata has good enough reasons for closing its Kidd metallurgical site, in Timmins, Ontario. The provincial and federal governments should probe Xstrata's decision and should force it to sell... 

Chinese mining giant on the prowl 
for copper investment opportunities

By: Keith Campbell     5th February 2010 China’s largest diversified mining company, the State-owned Aluminium Corporation of China (Chinalco), is looking worldwide for investment opportunities in copper, a metal which now has greater demand growth potential in China than aluminium. “Copper is our next main development target,” Chinalco... 

HudBay budgets C$207,9m capex in 2010

By: Liezel Hill     3rd February 2010 Toronto-based HudBay Minerals has forecast capital spending of $207,9-million this year, including sustaining capital at its operations and funding for the development of its new Lalor project, the firm said on Wednesday. HudBay said it produced 78 722 t of zinc, 48 397 t of copper, 92 201 oz of... 

Doe Run Peru, workers in dispute on delayed restart, salaries

By: Francisca Pouiller     30th January 2010 Doe Run Peru and employees at its shuttered La Oroya smelter have yet to reach an agreement on salary payments after a deadline for reopening the smelter passed this week. After two meetings held on Thursday between workers and company officials, and another emergency meeting among the staff,... 

IDC remains committed to funding Eritrea gold/copper/zinc project despite UN sanctions

By: Loni Prinsloo     29th January 2010 South Africa’s State-owned Industrial Development Corporation (IDC) has reconfirmed its commitment to provide $89-million in project debt facilities to the Bisha project in Eritrea. 

Vedanta reports record Q3 production

By: Chanel de Bruyn     27th January 2010 Diversified-miner Vedanta Resources achieved record output volumes of zinc, lead, aluminium and iron-ore in the third quarter of its 2010 financial year. The London-listed company reported to shareholders on Wednesday that its iron-ore output reached a record 5,4-million tons in the three months... 

Doe Run Peru workers await news on smelter restart

By: Francisca Pouiller     26th January 2010 Employees of Doe Run Peru's shuttered La Oroya smelter, in Peru, are still waiting for news on whether they can return to work this week, amid rumours that the start-up date may be delayed by another 90 days. Doe Run, which had existing environmental problems, was hard hit by the financial... 

Nyrstar agrees $335m zinc concentrate deal with Talvivaara

By: Esmarie Iannucci     25th January 2010 Belgium’s Nyrstar has agreed to acquire 1,25-million tons of zinc in concentrate from Talvivaara for $335-million. Talvivaara would start supplying Nyrstar in February, ramping up to 90 000 t/y of zinc in concentrate by 2012, with deliveries over a period of 10 to 15 years, the companies said on... 

Inmet missed '09 output estimate on slow Las Cruces ramp-up

By: Liezel Hill     22nd January 2010 Toronto-based Inmet Mining's copper production last year was slightly below forecasts, after the firm's new Las Cruces mine, in Spain, had lower-than-expected output, but the firm expects production of copper to rise 50% this year as Las Cruces ramps up. Inmet produced 83 600 t of copper in last... 

Farallon reports record output, expansion on track

By: Liezel Hill     22nd January 2010 Vancouver-based Farallon Mining produced a best-ever 23,4-million pounds of zinc in concentrate and 2,4-million pounds of copper in concentrate, plus by-product silver and gold, from its G-9 mine, in Mexico, in the fourth quarter of 2009. The record production was achieved as the company... 

Hochschild achieves FY production target, Q4 output down

By: Esmarie Iannucci     20th January 2010 London-listed Hochschild Mining achieved its production target of 28,2-million silver-equivalent ounces in the year ended December 2009, reporting an 8% year-on-year production increase. The increase was mainly driven by strong production at its Pallancata and Arcata mines in Peru and its San... 

BHP Billiton quarterly iron-ore output up 11%

By: Creamer Media Reporter      20th January 2010 BHP Billiton produced 32,45-million tons of iron-ore in the last three months of 2009, an increase of 11% compared with the same period a year earlier, after Chinese demand for the steelmaking ingredient increased. “During the December quarter we saw strong price recovery across the commodity... 

Fortuna increased silver output 96% in 2009

By: Liezel Hill     18th January 2010 Vancouver-based Fortuna Silver Mines produced 1,69-million ounces of silver in 2009 from its Caylloma mine, in Peru, 96% more than a year earlier, the company reported on Monday. Zinc output also rose 22%, to 28,2-million pounds, and lead production increased 52%, to 25,1-million pounds.  

Appeal filed against Teck's Red Dog water permit

By: Liezel Hill     16th January 2010 A group of local tribal and environmental organizations, together with two nonprofit law firms, have appealed Alaska's approval of a water-discharge permit for an expansion at Teck Resource's Red Dog zinc mine, the company reported on Friday. The permit was issued recently by the US... 

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