R/€ = 16.94 Change: 0.14
R/$ = 16.62 Change: 0.16
Au 1787.72 $/oz Change: -2.46
Pt 943.00 $/oz Change: 3.50

Zinc News

BHP Billiton expects commodity markets to remain robust

By: Matthew Hill     18th August 2008 BHP Billiton, the world’s biggest resources company, on Monday reiterated its upbeat outlook on the commodities markets, as demand keeps growing, and companies struggled to bring on new supply. CEO Marius Kloppers said that “people are way too optimistic on the speed of which new projects can... 

Exxaro sees better second-half on improved coal output  

By: Matthew Hill     14th August 2008 JSE-listed Exxaro on Thursday said that it would “definitely see much stronger” results for the second half of 2009, as it raised coal output by “a couple of million tons”. Outgoing COO Mike Kilbride said that the company’s coal division, its biggest revenue source by far, would have a... 

Former Rio exec Rumble joins BHP board

By: Matthew Hill     14th August 2008 The world’s biggest resources company, BHP Billiton, has appointed Keith Rumble, a former executive of Rio Tinto, which it has targeted for a takeover, as a director. In an announcement on Tuesday, the company said that it had also appointed US-based Fluor Corporation chairperson and CEO Alan... 

Exxaro H1 headline earnings up 54% to R1,3bn 

By: Matthew Hill     14th August 2008 Diversified miner Exxaro, which is State-owned Eskom’s biggest coal source, on Thursday posted a 54% rise in headline earnings for the half-year ended June 30 to R1,3-billion, after its coal unit achieved a record operating profit of R935-million. However, net operating profit dropped by 10% to... 

Oz miner battles weak prices with low-tonnage, high-grade plan

By: Liezel Hill     11th August 2008 Sydney-based CBH Resources has unveiled a new higher-grade and lower throughput mine plan for its Endeavor operation, which it believes will keep the mine economically viable, despite low zinc and lead prices. The company plans to reduce ore production in 2008/09 from 1,3-million tons to 940 000... 

Lundin says Portugal zinc mine 'not viable', mulls options

By: Liezel Hill     7th August 2008 Shares in base-metals miner Lundin Mining slid on Thursday, after the company posted a second-quarter loss of $108,42-million, and said that its Aljustral project, in Portugal, was not economically viable at current zinc prices. The company recorded a $152,8-million noncash impairment after... 

SA’s gold output drops further

By: Matthew Hill     7th August 2008 The fall in South Africa’s gold production continued in June, when the industry produced 12,3% less of the yellow metal than the same month the previous year, government figures showed. Actual total mining production in the country for the quarter ended June 30, slid by 6,3% compared with the... 

HudBay takes a knock on lower zinc prices

1st August 2008 TSX-listed HudBay Minerals reported net earnings of $33,2-million for the second quarter, 51% less than a profit of $69,1-million a year earlier, after zinc prices weakened. Earnings were also negatively affected by higher costs for purchased copper concentrate, planned lower sales of copper and... 

Aim-listed seafloor deposits developer lodges its first mining licence application

By: Irma Venter     1st August 2008 AIM-listed explorer and developer of seafloor massive sulphide (SMS) deposits, Neptune Minerals, has lodged its first mining licence application, and this over the Rumble II West Seamount, within the New Zealand exclusive economic zone. 

Albidon CFO Nick Day to quit

By: Mariaan Webb     29th July 2008 Nickel-miner Albidon has started a process to find a replacement for its CFO Nick Day, who would leave the company on August 31, after four-and-a-half years. Albidon said on Tuesday that Day had timed his departure to coincide with the completion of construction and the production of first... 

Explorer Argentex has high hopes for polymetallic prospect in Argentina

By: Liezel Hill     28th July 2008 Vancouver-based Argentex Mining, which began trading on the TSX Venture Exchange on Monday, hopes to complete an initial NI 43 101-compliant resource statement early next year at its flagship Pinguino property, president Ken Hicks told Mining Weekly Online. The Pinguino project is located in... 

Teck Cominco studies wind power generation at Alaska mine

By: Liezel Hill     24th July 2008 Vancouver-based Teck Cominco is considering using wind or natural gas to power its largest zinc mine, the Red Dog operation, in Alaska, president and CEO Don Lindsay said on Thursday. “We are looking at different forms of every operation there is a focus on energy costs generally,”... 

Zinc surplus may be lower than forecast on shutdowns - Teck's Lindsay 

By: Liezel Hill     24th July 2008 Vancouver-based Teck Cominco expects that the zinc market surpluses for both 2008 and 2009 will likely be smaller than currently being forecast, partly because lower prices may force mines to close prematurely, president and CEO Don Lindsay said on Thursday. Zinc prices have fallen sharply over... 

Teck Cominco lifts quarterly profit 2,5% on copper, coal earnings

By: Liezel Hill     24th July 2008 Vancouver-based Teck Cominco increased second-quarter net earnings to C$497-million, an increase of 2,5% over profit of C$485-million a year earlier, after copper and coal sales rose. The copper division contributed 53% of the operating profit in the quarter, and the coal unit accounted for 35%,... 

Aim Resources starts legal proceedings against ex-MD Flory

By: Liezel Hill     23rd July 2008 Sydney-based Aim Resources has begun proceedings in the Supreme Court of New South Wales against former MD Marc Flory, the firm announced on Wednesday. The litigation, which also included other unnamed parties, related to “alleged breaches of duties” while Flory was a director of the company. 

SRA to build pilot germanium, gallium recovery plant

By: Liezel Hill     23rd July 2008 Toronto-based Strategic Resource Acquisition (SRA) plans to complete a pilot plant early next year to recover germanium and gallium from the zinc leachate produced by smelting concentrate at its Mid-Tennessee zinc mine, in the US. The firm has completed a positive scoping study into the... 

Australia’s Ampella boosts Burkino Faso gold holdings

By: Chanel de Bruyn     21st July 2008 ASX-listed gold and zinc exploration company Ampella Mining has signed a memorandum of understanding to acquire a 100% interest in five gold tenements in Burkina Faso, which would increase its prospecting area of gold and zinc bearing Birmian greenstone belts within the west African country, to 2... 

Lundin finds new zinc/copper deposit at Portugal mine

By: Liezel Hill     17th July 2008 Base-metals miner Lundin Mining has discovered a new zinc/copper deposit at its Neves-Corvo mine, in southern Portugal, the firm reported on Thursday. The new deposit has been named the Lombador East deposit and contains the thickest, highest-grade zinc intersections ever encountered at the... 

Perkoa zinc mine placed on care-and-maintenance

By: Mariaan Webb     17th July 2008 Burkina Faso’s largest mine development, the Perkoa zinc mine, as been put on care-and-maintenance, after its owner, Aim Resources, could not secure funding for the project. Aim Resources, headquartered in Sydney, attributed its funding woes to the current zinc prices and forecasts, which made... 

Xstrata, Teck Cominco close Western Australia base-metals mine

By: Liezel Hill     15th July 2008 Operations at Teck Cominco and Xstrata's jointly owned Lennard Shelf Pillara mine, in Western Australia, will cease by early August, after plummeting zinc and lead prices and rising costs made the mine uneconomic, the companies announced on Tuesday. A stronger Australian dollar had also taken... 

Baja Mining sells 30% of its stake in Mexican subsidiary

By: Leandi Kolver     11th July 2008 Vancouver-based Baja Mining Corporation has sold 30% of its interests in its Mexican subsidiary, Minera y Metalurgica del Boleo S.A. de C.V. (MMB), which is currently constructing a mining and milling facility in Santa Rosalia, Mexico, to a consortium of Korean companies led by the Korean... 

Canadian explorer sues Xstrata over Ontario prospect

By: Liezel Hill     9th July 2008 TSX-listed Opawica Explorations has filed an action in the Ontario Superior Court of Justice against Xstrata Copper Canada, over a dispute between the two companies relating to their jointly-owned Chance property, in northern Ontario, Canada. Opawica, which is also claiming damages, legal costs... 

Toronto-, London-listed company charters specialist mining vessel for project off Papua New Guinea

By: Irma Venter     4th July 2008 Toronto and London-listed Nautilus Minerals has moved one step closer to being the first company to commercially exploit the sea-floor for copper and zinc. 

Zim loses 500 skilled personnel, may not enrol new mining, engineering students

By: Oscar Nkala     20th June 2008 Zimbabwe’s mining sector has lost over 500 technically skilled and experienced personnel over the last year alone, a recent survey conducted by the Chamber of Mines reveals. 

Zinifex investors OK Oxiana merger, to create new zinc No 2

By: Liezel Hill     16th June 2008 The shareholders of Australian base-metals miner Zinifex on Monday voted to approve the takeover of the company by Oxiana, to create the newly-christened OZ Minerals, which will be the third-largest diversified miner in Australia, and the world's second biggest producer of zinc in... 

Copper and zinc hopeful to start scoping studies at Namibian targets in June

By: Chanel de Bruyn     13th June 2008 Aim-listed mining exploration group Kalahari Minerals on Friday said exploration activities at its copper and base-metal projects in Namibia had shown good drill results, adding that the projects were making good progress. The group had continued its exploration programme to define in excess of... 

Bacteria doing sensational 98% recovery job for Finland nickel entrant 

By: Martin Creamer     13th June 2008 Bugs are helping to a new Nordic nickel entrant to hit the recovery high spots and hold its share price high despite the world’s credit crunch. 

Teck Cominco seals wage agreement with Trail smelter unions

By: Liezel Hill     11th June 2008 Vancouver-based Teck Cominco has reached a four-year contract agreement with the unions at its Trail lead and zinc smelter and refinery operations, in British Columbia, the company said.  

Miners should position themselves for even bigger China resources assault 

By: Matthew Hill     10th June 2008 Mining companies needed to look strategically and systematically at how they could benefit from opportunities that resource-hungry China's increasing growth as global resources player presented, an expert on that country said on Tuesday. Speaking at the ‘Africa Mining Congress'... 

Weaker demand conditions prevailing as world economy slows – NCM

By: Irma Venter     6th June 2008 There is a selective bull market at play in the industrial commodities market, reports London-based Natixis Commodity Markets (NCM) in its second quarter metals review. 

HudBay reports fatality at US mine

2nd June 2008 A miner was killed on Saturday as a result of a rockfall at Canadian miner HudBay Minerals' St Lawrence zinc mine, in Balmat, New York, the company said in a statement.  

Teck Cominco working with officials after refinery spill, output unaffected

By: Liezel Hill     30th May 2008 US and Canadian government departments and agencies were monitoring potential human and environmental health effects on Friday, after diversified miner Teck Cominco reported that about 950 kg of lead in solution had spilled into the Columbia river, after a technical failure at its Trail lead and... 

Angus & Ross receives mining permit for Greenland zinc mine

By: Liezel Hill     28th May 2008 Aim-listed exploration and development firm Angus & Ross has been awarded a 30-year licence to mine zinc, lead and silver ore from its Black Angel mine, in western Greenland, opening the way for the company to restart the mine later this year, as planned. The company has started building a... 

Griffin agrees to repurchase 79,85m shares

By: Liezel Hill     27th May 2008 Aim-listed Griffin Mining gained 6,51% on Tuesday, after the company announced that it would buy back 79,85-million shares in the company from Citadel Equity Fund, at £0,765 each. 

Mexico's biggest new gold mine may get even bigger  

By: Liezel Hill     21st May 2008 Canadian gold-miner Goldcorp, which will own and operate the three biggest gold mines in Mexico by 2010, is studying a number of optimisation possibilities for the third, and largest, of the three - its $1,5-billion Penasquito project. The company expects to have some answers on the viability of... 

Lundin sells stake in Swedish zinc/copper project

By: Liezel Hill     16th May 2008 TSX Venture Exchange-listed Gold-Ore Resources has agreed to buy Lundin Mining's 90% interest in the Norrliden base- and precious-metals deposit from Lundin Mining, the company said on Friday. Gold-Ore will make a one-time payment of 3-million shares for the 90% interest in Norrliden and... 

Lundin mulls options for Russian zinc prospect

By: Liezel Hill     15th May 2008 Base-metals miner Lundin Mining is “looking at all alternatives” regarding its 49% stake in the Ozernoe zinc deposit, in Russia, president and CEO Phil Wright said on Thursday. Work on the feasibility study was “slow going” and certain project deadlines and governing... 

Nevsun expects first production in 2010 from Eritrea gold mine 

By: Liezel Hill     15th May 2008 Vancouver-based Nevsun Resources is making progress at its Bisha project, in Eritrea, with first output expected in 2010, the company reported on Thursday. The project is now expected to cost $246-million, and produce an average of 431 000 oz of gold and 702 000 oz of silver a year in the first... 

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