R/€ = 17.37 Change: 0.04
R/$ = 17.93 Change: 0.03
Au 1643.66 $/oz Change: -23.93
Pt 858.50 $/oz Change: -34.00

Zinc News

Breakwater inks royalty agreements for Myra Falls

By: Liezel Hill     31st December 2009 TSX-listed Breakwater Resources has sold basic royalties on a portion of the zinc produced over the life of its Myra Falls mine, in British Columbia, the company reported on Thursday. Breakwater said it entered into royalty agreements with Red Mile Resources and Ronpam Resources, and received... 

FNX expects 31% higher output in 2010

By: Liezel Hill     23rd December 2009 Canada's FNX Mining expects to ship 891 00 t of ore next year from its Sudbury mines, an increase of 31% compared with 2009, the firm said on Wednesday. Total production in 2010 is forecast at 48,1-million pounds of copper, 7,7-million pounds of nickel and 74 500 oz of combined platinum,... 

NovaGold agrees to buy Ambler project in Alaska

By: Liezel Hill     23rd December 2009 Vancouver-based NovaGold Resources has agreed to buy the Ambler project, in northern Alaska, from subsidiaries of Rio Tinto for $29-million. Ambler hosts the high-grade Arctic copper/zinc/gold/silver deposit, which is one of the world's largest and richest undeveloped copper/zinc volcanogenic... 

Lundin Mining forecasts $250m capex for 2010, output flat

By: Liezel Hill     11th December 2009 Toronto-based Lundin Mining expects production in 2010 to be similar to 2009, and is forecasting capital expenditures of around $250-million, the company said on Friday. The only real change in output levels will be in zinc, after the company halted operations at its Galmoy mine in 2009, said... 

Will the New Year ring in a deluge of deals?

By: Liezel Hill     11th December 2009 'Rollercoaster’ is a word that gets thrown around a lot these days, although it still has a long way to go before joining the well-worn ranks of the ubiquitous ‘green shoots’. Still, as mining executives reflect on their experiences in 2009, it would be difficult to argue with the aptness of the... 

Will the New Year ring in a deluge of deals?

By: Liezel Hill     11th December 2009 ‘Rollercoaster’ is a word that gets thrown around a lot these days, although it still has a long way to go before joining the well-worn ranks of the ubiquitous ‘green shoots’. Still, as mining executives reflect on their experiences in 2009, it would be difficult to argue with aptness of the... 

Adex mulls options for New Brunswick project

By: Liezel Hill     9th December 2009 TSX Venture Exchange-listed Adex Mining has completed a new preliminary assessment on the North zone of its Mount Pleasant property, in Canada's New Brunswick Province, which indicates two viable production options for the tin/indium/zinc mineralised zone. The first option envisages the... 

Xstrata to permanently shut Kidd plant in 2010

By: Chanel de Bruyn     8th December 2009 Diversified miner Xstrata will permanently close down its copper and zinc metallurgical plants at the Kidd Metallurgical site, in Timmins, Ontario, from May 1, 2010, the firm announced on Tuesday. The decision will affect about 670 workers. The group also announced it would record a total of... 

HudBay could have new chief in 3 to 5 months

By: Liezel Hill     8th December 2009 Canada's HudBay Minerals could announce a new CEO appointment in the next three to five months to replace outgoing chief Peter Jones, CFO David Bryson said on Monday. Speaking at a mining conference in Montreal, he also asserted that Jones' departure did not reflect any differences with the... 

Exxaro to exit zinc, halts sands mine, boosts coal

By: Martin Creamer     1st December 2009 The shares of JSE-listed diversified miner Exxaro rose sharply on the company's decision to exit zinc, halt its Kwazulu-Natal minerals sands project, and intensify its investment in coal. "We have undertaken a thorough review and prioritisation of our capital expenditure and project pipeline to... 

Kria talks to Xstrata on toll-treating deal

By: Liezel Hill     21st November 2009 TSX Venture Exchange-listed Kria Resources is in discussions with Xstrata Zinc about the possibility of toll processing ore from Kria's Halfmile Lake project, in New Brunswick, Canada, at Xstrata's Brunswick 12 mill, the firm revealed this week. The mill, which currently has excess capacity, is... 

Teck closes in on debt targets

By: Liezel Hill     18th November 2009 Canadian diversified miner Teck Resources won't argue with suggestions that it could achieve its own targets for debt ratios by early next year, a top executive said on Wednesday. The company is aiming to put itself in a position that will merit an investment-grade rating. 

Alexco gets pivotal permit for Yukon mine

By: Liezel Hill     18th November 2009 Vancouver-based Alexco Resource Corp has been issued a quartz mining licence by the government of Yukon for its Bellekeno mine in the Canadian territory. The licence is the primary permit authorising Alexco to immediately begin mine development and mill construction at the site, the company said.  

Breakwater returns Myra Falls hoist, but evacuates due to weather

By: Liezel Hill     17th November 2009 The production hoist at TSX-listed Breakwater Resources' Myra Falls mine, in British Columbia, has been returned to service after a fire earlier this month, the firm reported on Monday. However, the firm said later in the day that the underground workings at Myra Falls had been evacuated, after... 

Breakwater says workers ratify labour deal

By: Liezel Hill     13th November 2009 TSX-listed Breakwater Resources confirmed on Friday that hourly employees at its Myra Falls mine, in British Columbia, had voted to ratify the tentative labour agreement reached earlier in the week with management. The vote was 83% in favour of the deal. 

Current nickel price not 'realistic' – FNX chief

By: Liezel Hill     13th November 2009 The nickel market is skewed at the moment by a strike at Vale Inco's Sudbury, Ontario, and Voisey's Bay operations, which raises questions over the sustainability of the current price, FNX Mining CEO Terry MacGibbon said on Thursday. FNX also has mines in Sudbury, but stopped mining nickel ore... 

HudBay CEO Jones will retire at year-end, COO resigns

By: Liezel Hill     12th November 2009 Toronto-based HudBay Minerals will start looking for yet another CEO, ahead of incumbent Peter Jones' retirement on December 31, the company said on Thursday. He will be replaced on an interim basis on January 1, pending the hiring of a new chief executive, by director Warren Holmes, who will... 

Alexco approves construction of Yukon silver/lead/zinc mine

By: Liezel Hill     11th November 2009 Vancouver-based Alexco Resource Corp will start building its Bellekeno project, in the Keno Hill silver district of Canada's Yukon Territory, and plans to be in full production by the third quarter of 2010, the company announced on Wednesday. Alexco has finalised a development plan for the... 

Pan American will decide on Mexico project by end-2010

By: Liezel Hill     11th November 2009 After completing and commissioning five new-mine and expansion projects in the last six years, Vancouver-based Pan American Silver is turning its attention to the next candidate in line – the La Preciosa silver project, in Mexico's Durango State. The company, which now has eight mines running in... 

Breakwater reaches last-minute deal with workers

By: Liezel Hill     10th November 2009 Base-metals producer Breakwater Resources reached a tentative agreement on Monday with the union that represents hourly employees at its Myra Falls mine, in British Columbia, Canada. The agreement will be put to union members for ratification later in the week, the company said, 

HudBay sees mid-2010 decision on Guatemala nickel project 

By: Liezel Hill     4th November 2009 Canadian base-metals miner HudBay Minerals expects to make a final decision on whether to proceed with the Fenix nickel project, in Guatemala, around the middle of next year, CEO Peter Jones said on Wednesday. The company is trying to come up with a low-cost power solution for the project, which... 

Farallon starts sniffing at acquisition prospects

By: Liezel Hill     4th November 2009 Vancouver-based Farallon Mining believes now is the right time to start looking around for companies or assets that would fit with the firm's objective of building a multi-mine, mid-tier company, says CEO Dick Whittington. Farallon achieved commercial production at its G-9 polymetallic mine, in... 

HudBay quarterly revenue slid 21%

By: Liezel Hill     4th November 2009 Toronto-based HudBay Minerals on Tuesday reported a 21% decline in revenue for the third quarter, after weaker copper and zinc prices offset higher gold prices. Revenue fell to C$194,6-million from C$247,4-million a year earlier.  

HudBay announces restart of Manitoba mine, concentrator

By: Liezel Hill     30th October 2009 TSX-listed Hudbay Minerals will restart its Chisel North mine and concentrator in Snow Lake, Manitoba, effective immediately, at a capital cost of about C$7-million, the company announced on Friday. The operations will ramp up to full production, likely by the second quarter of 2010, and will... 

Chinese group commissions 150 000-t/y copper smelter in Zambia, despite economic slowdown

30th October 2009 Zambia’s President Rupiah Banda last week commissioned the Chambishi copper smelter, which is owned by China Nonferrous Metal Mining Group (CNMMG). 

Debt paydown still top priority for Teck

By: Liezel Hill     29th October 2009 Vancouver-based Teck Resources may find itself sitting a lot more comfortably than was the case six months or so, but CEO Don Lindsay made it clear on Thursday that he won't be happy until the company's term loan is paid down and it once again merits investment-grade ratings. One year ago, Teck... 

Lundin Mining earned $3,7m in Q3

By: Liezel Hill     29th October 2009 Toronto-based Lundin Mining on Thursday posted net income for the third quarter of $3,7-million, compared with a $199-million net loss a year earlier. (The company recorded $228,2-million in noncash charges in last year's third quarter.) 

Teck Q3 profit up 44%

By: Liezel Hill     29th October 2009 Vancouver-based Teck Resources said on Wednesday that net income for the third quarter rose to C$609-million, compared with earnings of C$424-million in the same period a year earlier. Profit was helped by increased coal revenue, but the company's copper and zinc units also showed improved sales... 

Inmet Q3 earnings slide 18%, cuts full-year output targets

By: Liezel Hill     27th October 2009 Canada's Inmet Mining reported third-quarter net income of C$61,55-million on Tuesday, compared with C$75,06-million in the same period last year, and lowered its production forecasts for 2009. On a per share basis, profit slid 29%, to C$1,10 a share, from C$1,55 a year earlier. 

Australia’s Bass to build new base metals mine in Tasmania

By: Esmarie Iannucci     21st October 2009 Sydney-based Bass Metals on Wednesday reported that it was on track to kick-start the development of its Hellyer base metals project, in Tasmania, after a definitive feasibility study at the Fossey deposit proved it to be financially robust. The project was based on an initial ore production of... 

Goldcorp produces first concentrates at Penasquito

By: Liezel Hill     13th October 2009 Canada's second-biggest gold-miner, Goldcorp, has produced the first lead and zinc concentrates from its new Penasquito mine, in Mexico, the firm announced on Tuesday. Initial concentrates have been produced as a by-product of the commissioning process and currently total about 450 t of lead... 

Aurcana plans to start building Texas silver mine next year

By: Liezel Hill     9th October 2009 Canadian silver miner Aurcana expects to begin work on its second mine, the Shafter project in Texas, next year, and will likely start production at the operation early in 2012, CEO Lenic Rodriguez said on Thursday. The company has started putting out feelers for the $40-million that it needs to... 

HudBay surges on production plans for new Lalor deposit

By: Liezel Hill     9th October 2009 Shares in Toronto-based HudBay Minerals leapt on Thursday after the company announced it will spend C$85-million to build a production ramp linking the Chisel North mine, in Manitoba, to the new Lalor deposit. The ramp will allow near-term production of zinc-rich ore, as well as access to the... 

Vedanta reports strong first-half production results

By: Chanel de Bruyn     8th October 2009 London-listed Vedanta Resources has significantly boosted production at the majority of its operations, as well as its sale of electricity, in the second quarter of the 2010 financial year, while its large capital expenditure projects remain on track. Iron-ore production increased by 27% to... 

SA contract miner clinches Zambia deal

By: Talent Ngandwe     2nd October 2009 Zambia’s largest copper producer, Konkola Copper Mines (KCM), has engaged South African mining contractor Moolmans to undertake mining operations at its Chingola openpit A. 

Donner Metals already looking to next big Matagami discovery

By: Liezel Hill     26th September 2009 After watching one high-grade zinc and copper exploration target in the Matagami mining camp of Quebec go from discovery to feasibility phase in a whirlwind three years, TSX-listed Donner Metals is now setting its sights on finding and advancing the next one, chairperson Dave Patterson said in an... 

Farallon will raise C$10m in bought-deal offering

By: Liezel Hill     22nd September 2009 Vancouver-based Farallon Mining will raise about C$10-million in a bought-deal offering of shares, and plans to use the funds to study a mill expansion and for exploration at its zinc/copper mine in Mexico. The company has inked an agreement with a syndicate of underwriters led by Paradigm... 

HudBay pursues output at Lalor as 'highest priority', finds new copper/gold zone

By: Liezel Hill     22nd September 2009 Canada's HudBay Minerals has had some significant copper and gold drill hole intersections at its Lalor deposit, in Manitoba, and believes it has found a new copper/gold-rich zone of mineralisation, the firm announced on Tuesday. The Lalor deposit is located near HudBay's Snow Lake concentrator,... 

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