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Zinc News

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... 

Mining in Africa Projects 2010

By: Sheila Barradas     5th November 2010 A sample of mining projects taking place across the African continent. 

HudBay could see 2012 output from Reed Lake project

By: Liezel Hill     4th November 2010 Canada's HudBay Minerals expects production could begin in 2012 from the Reed Lake project in Manitoba, CEO David Garofalo said on Thursday. HudBay owns 70% of the project, located on the Flin Flon Greenstone belt, and junior VMS Ventures holds the balance. The company said on Wednesday it... 

Breakwater Resources seeks acquisitions, to restart Quebec mine

By: Liezel Hill     2nd November 2010 Base-metals producer Breakwater Resources is looking to add another mine or development project to its line-up, and will also restart the halted Langlois mine in Quebec in 2012, CEO David Petroff said on Tuesday. Langlois was put on care and maintenance in late 2008, in response to weak... 

Breakwater profit up on prices

By: Liezel Hill     1st November 2010 oronto-based Breakwater Resources' third-quarter profit increased more than 200%, to C$19,6-million, helped by higher metals prices. Breakwater produces zinc, copper, lead and gold from mines in Canada, Chile and Honduras. 

Xstrata announces A$274m Queensland zinc expansion

By: Esmarie Iannucci     29th October 2010 The zinc division of diversified miner Xstrata on Friday announced that it would proceed with the A$274-million expansion of its George Fisher mine, in Mount Isa, after receiving Queensland government approval. Production from the mine would increase by a rate of almost 30%, from 2013. Xstrata... 

SA engineering firm successfully commissions DMS plant in Iran

By: Jonathan Faurie     29th October 2010 South African engineering company Bateman Engineering has successfully commissioned the 30-t/hr dense media separation (DMS) modular plant it supplied to the Asechin Ara Company for the preconcentration of zinc/lead carbonate-bearing ore from the Angouran mine, in Iran’s Zanjan province. 

Zinc-industry-supported child survival initiative to be extended to Africa

By: Jonathan Faurie     29th October 2010 A collaborative effort by a number of key role-players in the zinc-mining industry has helped support the United Nations Children’s Fund’s (Unicef’s) aid work in Peru and Nepal. Earlier in October it was announced that new commitments to fund Unicef’s programmes in Brazil and will identify an... 

Teck keeps engineers busy with projects, still keen on iron-ore

By: Liezel Hill     27th October 2010 Vancouver-based Teck Resources will have its engineering teams working flat out next year, as it prepares a pipeline of expansion and greenfield projects to boost copper and coal production and studies the development of its oil sands interests. The company has three prefeasibility studies plus... 

Inmet in talks with 2nd partner for Panama project, eyes acquisitions

By: Liezel Hill     27th October 2010 Inmet Mining is in discussions with a second potential partner on its Cobre Panama project, and could lower its own interest in the asset to between 50% and 55% if the talks are successful, CEO Jochen Tilk said on Wednesday. Inmet still intends to continue as the operator of the project, he said. 

Lundin Q3 profit jumps, finds new deposit at Portugal mine

By: Liezel Hill     27th October 2010 Toronto-based Lundin Mining earned $59-million in the third quarter, up from $3,7-million a year earlier, when the company recorded big derivatives losses and losses on the sale of assets. Excluding non-recurring items, adjusted net income rose 57%, to $64,1-million in the third quarter of 2010,... 

Inmet Q3 profit up as prices rise

By: Liezel Hill     26th October 2010 Toronto-based Inmet Mining earned C$86,1-million in the third quarter, an increase of 40% compared with a year earlier, after metals prices rose year-on-year and the company included earnings and cash flow from its new Las Cruces mine, in Spain. Inmet, led by CEO Jochen Tilk, owns base-metals... 

North River in talks to enter JVs in Mozambique

By: Chanel de Bruyn     25th October 2010 Southern Africa-focused North River Resources has entered into discussions with three parties to potentially form joint ventures (JVs) over two of its exploration licences in Mozambique. The diversified resources company holds exploration licences over the Murrupala gold and tantalum project and... 

Rand Air to set up shop in several African countries by the end of 2011

By: Jonathan Faurie     15th October 2010 South African compressor and generator hire company Rand Air, a part of the Atlas Copco group, is eyeing African expansion, which it hopes to achieve by the end of 2011. 

IMF says 'few signs' metals supply can keep up with demand

By: Esmarie Iannucci     7th October 2010 An era of scarcity and rising prices for base metals is likely to continue for some time, as there have been "few convincing signs" that supply would catch up with demand, the International Monetary Fund (IMF) reported. "Analysis suggests that base metal prices are only about halfway through the... 

Alara buys stake in Saudi Arabia zinc/copper project

By: Esmarie Iannucci     5th October 2010 Perth-based Alara Resources on Tuesday announced that it would buy a 50% interest in the Khnaiguiyah zinc/copper project, and the adjacent Mutiyah and Umm Hijja projects, located in Saudi Arabia. Alara would pay United Arabian Mining (Manajem) $266 000 within five days of the execution of the... 

Nevsun plans higher copper throughput 

By: Liezel Hill     23rd September 2010 Vancouver-based Nevsun Resources plans to design the copper phase of its Bisha project, in Eritrea, at a higher throughput rate than modelled in the feasibility study, the company revealed on Thursday. Nevsun plans to start commissioning the first phase at Bisha by the end of this year, followed... 

Adex plans definitive feasibility study by mid-2011

By: Liezel Hill     17th September 2010 Toronto-based Adex Mining plans to start a definitive feasibility study (DFS) this year on the North Zone of the company's Mount Pleasant project, in New Brunswick, and will aim to have the study completed by mid-2011, the firm said on Thursday. Adex announce last month it had agreed to sell... 

HudBay earns majority stake in Back Forty, plans feasibility study

By: Liezel Hill     10th September 2010 Toronto-based HudBay Minerals has completed an earn-in of 51% on the Back Forty project, owned by Aquila Resources, and said on Friday it plans to complete a feasibility and apply for a mine permit before the end of 2011. The gold/zinc/copper/silver volcanogenic massive sulphide project is... 

Teck offers $700m of debt to fund $1bn notes repurchase

By: Liezel Hill     8th September 2010 Vancouver-based Teck Resources has offered to buy up to $1-billion of its outstanding 10,75% senior secured notes due 2019, the company said on Wednesday. To partially fund the repurchase, the miner will issue up to $700-million of senior unsecured notes due 2021 and 2041. 

Lundin amends, extends credit facility

By: Liezel Hill     2nd September 2010 Canadian base-metals miner Lundin Mining has amended and restated a credit agreement to increase the amount of the revolving credit facility, lower the cost of borrowing and extend the term of the facility, the firm said on Thursday. The revolving facility has been increased from $225-million to... 

Lundin boosts copper reserves at Neves Corvo

By: Liezel Hill     31st August 2010 Toronto-based Lundin Mining has increased both reserves and resources of copper at its Neves-Corvo mine, in Portugal, since its last update six months earlier. Lundin, which reported resource and reserve estimates for its mines in Europe and Africa as of June 30, said on Tuesday that copper... 

HudBay buys stake in junior Augusta

By: Liezel Hill     25th August 2010 TSX-listed HudBay Minerals has agreed to buy shares and warrants in Augusta Resource Corp for C$29,99-million, the firms announced this week. Augusta will put the funds raised towards development at its flagship Rosemont project, in Arizona.  

Alexco gets key Yukon permit, targets commissioning in 6 weeks

By: Liezel Hill     23rd August 2010 Alexco Resource, which is building the Bellekeno silver/lead/zinc mine in Canada's Yukon territory, plans to complete construction and start commissioning within the next six weeks, the company said on Monday. Shares in Alexco rose 3,1%, to C$3,69 apiece by 14:26 in Toronto.  

Exxaro just misses injury rate reduction target

By: Jonathan Faurie     20th August 2010 In an effort to follow in Anglo American’s footsteps to aim towards zero fatalities across all of its operations, diversified black economically-powered mining major Exxaro has decreased its lost-time-injury-frequency rate (LTIFR) by 13% to 0,30. 

Farallon extends, tweaks Trafigura concentrate supply deals

By: Liezel Hill     19th August 2010 Vancouver-based Farallon Mining has extended the zinc and copper concentrate off-take agreements it has with Trafigura Beheer for two years, the firm said on Thursday. Farallon operates the G-9 mine in Mexico, where it produces zinc, copper, gold and silver. 

Selwyn closes C$100m deal with China's Chihong

By: Liezel Hill     19th August 2010 Vancouver-based Selwyn Resources has formed a 50-50 joint-venture with a subsidiary of China's Chihong Zinc & Germanium Company, and the Chinese firm has deposited C$100-million into the JV. The JV was formed to hold the Selwyn zinc/lead project, under an agreement first announced in December... 

Baja raised C$17,5m in equity offering

By: Liezel Hill     13th August 2010 Vancouver-based Baja Mining raised C$17,5-million in a bought-deal equity offering, the company said on Friday. The firm sold 21,88-million shares at C$0,80 apiece, in an offering underwritten by a syndicate led by Cormark Securities.  

Australian firm capitalising 
on Zim mining industry 

By: Jonathan Faurie     13th August 2010 AltX-listed steel company BSI Steel, which has opened up operations in Zimbabwe, reports that business in the country is buoyant, capitalising on the recent uptake in the mining industry. 

Farallon eases up on mill for mine catch-up, still mulls M&A

By: Liezel Hill     12th August 2010 Vancouver-based Farallon mines continues to look at potential corporate transactions that could see it merging with another company, CEO Dick Whittington said on Thursday. Farallon produces zinc, copper, silver and gold from its G-9 mine in Mexico, and said in June it plans to start up a second... 

Exxaro posts R2,36bn profit, sees more growth 

By: Chanel de Bruyn     12th August 2010 Diversified South Africa-based resources group Exxaro Resources has achieved a 68% increase in headline earnings to R2,36-billion in the first six months of this year, compared with the headline earnings R1,39-billion recorded in the first half of 2009. Headline earnings a share for the six... 

HudBay lays out project plans, acquisition strategy

By: Liezel Hill     5th August 2010 Canadian base-metals miner HudBay Minerals plans to aggressively develop its own growth projects, but will be conservative when it comes to making acquisitions, the firm's new chief executive said on Thursday. HudBay has approved the start of full construction at its Lalor project, will put... 

HudBay gives Lalor green light, approves dividend

By: Liezel Hill     4th August 2010 Canadian miner HudBay Minerals has approved the start of full construction for its Lalor project, in Manitoba, with first production expected by the second quarter of 2012, and announced a semi-annual shareholder dividend. HudBay earned C$13,3-million in the second quarter, down from... 

Hecla profit rises as costs fall

By: Liezel Hill     28th July 2010 Hecla Mining earned $17,1-million in the second quarter of 2010, compared with just $2,5-million in the same period a year earlier. The company, which produces silver, gold, lead and zinc from two mines in Alaska and Idaho, reported quarterly cash flow from operations of $54-million, up from... 

Lundin posts $75,6m Q2 profit

By: Liezel Hill     28th July 2010 Toronto-based Lundin Mining earned $75,6-million in the second quarter, an increase of 73% compared with a year earlier, helped by the sale of shares in junior Chariot Resources. Sales declined 6% to $183,1-million though, compared with $194,8-million in the second quarter of 2009, after... 

Teck adjusted profit, revenue rise

By: Liezel Hill     28th July 2010 Canadian diversified miner Teck Resources earned C$260-million in the second quarter, compared with C$570-million a year earlier, after foreign exchange gains recorded in the second quarter of 2009 were not repeated. Revenue from operations was C$2,1-billion in though, compared with... 

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