R/€ = 17.09 Change: -0.01
R/$ = 16.78 Change: 0.00
Au 1773.62 $/oz Change: -16.56
Pt 934.50 $/oz Change: -5.00

Zinc News

FNX Mining posts lower earnings after nickel prices decline

By: Liezel Hill     8th May 2008 Toronto-based base-metals miner FNX Mining Company reported first-quarter net earnings of C$24,06-million, compared with C$30,19-million a year earlier, after new production from its Podolsky mine failed to offset the effects of lower nickel prices. The average realised price for nickel during... 

Workers to strike at Namibia's Skorpion Zinc

By: Reuters     7th May 2008 Workers at Namibia's biggest zinc producer Skorpion Zinc are going on strike from Friday over a pay dispute, the Mineworkers Union of Namibia (NUM) said on Wednesday. NUM General Secretary Joseph Hengari said annual wage negotiations with Skorpion's management were deadlocked and... 

Xstrata coal output declines, chrome and copper rise

6th May 2008 Diversified miner Xstrata Resources produced 4% less coal during the first quarter of this 2008 than in the same period a year earlier, largely as a result of heavy rains and flooding at its Australian operations. The group produced 18,5-million tons of coal during the quarter, after thermal coal... 

Lundin approves €11,3m expansion to improve recoveries at Portugal plant

By: Liezel Hill     5th May 2008 Base-metals miner Lundin Mining will build an additional circuit in the copper plant at its Neves-Corvo mine, in Portugal, to recover copper and zinc that is currently being lost to tailings, the firm said on Monday. “Since the start of production at Neves-Corvo in 1988, important... 

TSX reviews copper junior's listing

By: Liezel Hill     2nd May 2008 The TSX is reviewing the shares of Denver-based base-metals company Constellation Copper, to determine whether they meet listing requirements, the company said on Friday.  

Griffin won't increase offer for Yukon Zinc

By: Liezel Hill     1st May 2008 LSE-listed Griffin Mining has told Vancouver-based junior Yukon Zinc that it won't increase its all-share offer for the firm, Griffin said on Thursday. 

Inmet Mining Q1 profit gains on metals prices

By: Liezel Hill     29th April 2008 Toronto-based Inmet Mining lifted first-quarter net income 5,53%, to C$106,67-million, from C$101,08-million a year earlier, mainly because of higher copper and gold prices, the company said on Tuesday.  

Griffin says target Yukon Zinc received counter offer

By: Liezel Hill     28th April 2008 Canadian development firm Yukon Zinc, which agreed this month to a takeover by LSE-listed Griffin Mining, has received a cash offer for the company from a third party. 

Teck expects record copper, coal profits in coming year 

By: Liezel Hill     22nd April 2008 Diversified Canadian miner Teck Cominco expects earnings from its copper and coal businesses will rise to their highest levels ever in the next year, as demand from China and other emerging economies continues at a galloping pace. CEO Don Lindsay said that he did not expect a falling off in... 

Griffin Mining plans to buy Yukon Zinc

By: Liezel Hill     22nd April 2008 LSE-listed Griffin Mining has agreed to buy Canadian base-metals junior Yukon Zinc in an all-share transaction, the two companies announced on Tuesday. 

Acadian Mining plans to spin off gold assets

By: Liezel Hill     18th April 2008 Halifax-based Acadian Mining plans to spin off its gold exploration assets into a new public company, to be called Annapolis Gold Corporation, the firm said on Friday. 

Sunridge commissions scoping study for Eritrea project

By: Liezel Hill     8th April 2008 Vancouver-based Sunridge Gold has appointed Wardrop Engineering to complete a scoping study for its Emba Derho zinc/copper/gold/silver project, in Eritrea, the firm said on Tuesday.  

Vedanta Resources CEO to retire

4th April 2008 LSE-listed base-metals producer Vedanta Resources has appointed Mahendra S Mehta as CEO from September 30, when the group's current chief, Kuldip K Kaura, will retire.  

Oz junior gets new chairperson

By: Matthew Hill     2nd April 2008 ASX-listed Aim Resources on Wednesday said that chairperson Marc Flory had resigned with immediate effect, and that current director Vic Bradley would replace him. Flory left to pursue other business interests, the company said. Aim is developing the Perkoa zinc project in Burkina Faso, and is... 

Lundin Mining boosted zinc reserves 61% last year, copper up 2,8%

By: Liezel Hill     28th March 2008 Base-metals miner Lundin Mining increased its proven and probable zinc reserves by 61,4% year on year in 2007, while copper reserves were 2,8% higher on December 31 than a year earlier, the firm said on Friday. The company reported copper reserves of 19,38-million tons, and zinc reserves of... 

FNX sticks to its knitting, but keeps an eye out for potential targets

By: Liezel Hill     27th March 2008 Toronto-based FNX Mining would continue to prioritise its internal operations and pipeline of prospects, but would not discount the possibility of acquisitive growth, chairperson Terry MacGibbon said on Thursday. The company, which produces nickel, copper, platinum-group metals, gold and cobalt... 

Angus & Ross expects output at Greenland zinc mine by year-end

By: Liezel Hill     26th March 2008 LSE-listed Angus & Ross (A&R) expects to receive a mining licence in June for its Black Angel zinc/lead mine, in western Greenland, and is confident that it will begin production this year, the firm said on Wednesday. The company submitted its mining licence application in February to... 

London-listed Kalahari to raise £14,4m to advance Namibian projects

By: Olivia Soraya Spadavecchia     20th March 2008 Aim-listed mining exploration and evaluation group Kalahari Minerals said on Thursday that it had conditionally raised £14,4-million, before expenses, through the placement of about 46-million new ordinary shares at a price of 31,25p a share. "Kalahari has a broad portfolio of projects... 

Lundin Mining reports $436m Q4 loss after impairment charges

By: Liezel Hill     19th March 2008 Base-metals miner Lundin Mining has posted a net loss of $436,6-million, after noncash impairment charges of $491,9-million. The charges related to its merger with EuroZinc Mining and the acquisition of Rio Narcea Gold Mines. 

Mega mergers may mean more assets up for sale

By: Liezel Hill     18th March 2008 The mooted combinations of mining giants BHP Billiton and Rio Tinto, and Companhia Vale do Rio Doce and Xstrata, would likely result in several relatively smaller planned and producing mines becoming available to prospective buyers, the head of Canadian miner HudBay Minerals said on Tuesday. The... 

Strong Canadian dollar, rising costs bite into HudBay earnings

By: Liezel Hill     18th March 2008 Canadian miner HudBay Minerals reported net earnings of C$227,1-million for 2007, compared with C$564-million a year ago, after increased production and higher metals prices failed to offset the effects of a surging Canadian dollar and higher operating costs. The company also attributed the... 

Aim Resources to raise further $56m for Burkina Faso project

By: Olivia Soraya Spadavecchia     14th March 2008 Africa-focused mining company Aim Resources will, in the upcoming months, decide on the project-funding for its Perkoa zinc project, in Burkina Faso, start the mine decline, and increase the process plant's capacity. The company said on Friday that it would have to raise a further... 

Australia will be first to excel at mining ocean floor for gold, copper, top Canadian professor predicts

By: Irma Venter     14th March 2008 Did Jules Verne know something the rest of the world is only waking up to now? In 1870, Verne wrote in Twenty Thousands Leagues Under The Sea that "in the depths of the oceans there are mines of zinc, iron, silver and gold that would be quite easy to exploit". 

Worker at Eritrea project injured by ground ordnance

By: Liezel Hill     11th March 2008 The driver of the project contractor's vehicle susustained minor injuries at the site of the Bisha gold project, in Eritrea, on Friday, after the vehicle was damaged by a ground ordnance, probably a land mine, Vancouver-based Nevsun Resources said. “Based on all information available,... 

Vale Q4 profit rises to $2,57bn

By: Liezel Hill     29th February 2008 Brazilian resources giant Companhia Vale do Rio Doce (Vale) increased fourth quarter net earnings to $2,57-billion, the group reported on Thursday. “Vale completed in 2007 the fifth consecutive year of extraordinary growth in its activities,” the group said in a statement. 

Exxaro has 17 coal, mineral sands, base-metal projects on way

By: Keith Campbell     29th February 2008 Although diversified South African mining group Exxaro regards itself as currently being in a consolidation phase – the company was only created in 2006 – it is not ruling out future expansion projects, and has inherited a significant project pipeline from the companies it was formed... 

Lundin reviews asset portfolio as new chief takes stock

By: Liezel Hill     28th February 2008 Base metals miner Lundin Mining is taking a close look at all its operations and investments, with a view to managing assets more actively and improving the quality of its portfolio, new CEO Phil Wright said on Thursday. Wright replaced former chief Karl-Axel Waplan in January. 

Australian miner to start study on North African zinc/lead mine

28th February 2008 Australian mining firm Terramin announced on Thursday that it would proceed immediately with the prefeasibility study into its flagship Tala Hamza zinc-lead mine in Algeria, following positive new results from a technical and economic review just completed. Based on the results from a study by... 

Metorex announces earnings rise, sees ‘robust' second half

By: Christy van der Merwe     21st February 2008 Diversified mid-tier miner Metorex, on Thursday reported a 5% increase in headline earnings a share, to 54c a share in the interim period ended December 31, and Metorex CEO Charles Needham looked forward to a "robust" performance ahead, irrespective of "some challenges" which... 

HudBay expects more zinc, less copper output this year

By: Liezel Hill     15th February 2008 Canada-based Hudbay Minerals expects zinc output to rise and gold and silver production to remain flat in 2008, but will process less copper concentrate in order to comply with Canadian air-quality targets, the company said on Friday. 

Galore Creek review will likely take more than a year – Teck Cominco chief

By: Liezel Hill     12th February 2008 Vancouver-based diversified miner Teck Cominco expects a review of its jointly-owned Galore Creek project, in British Columbia, to take at least a year, and “probably more”, president and CEO Don Lindsay said on Tuesday. Teck and partner NovaGold said in November last year that they... 

Exxaro shares plunge after publishes outlook for FY earnings

By: Matthew Hill     8th February 2008 JSE-listed diversified-miner Exxaro took a beating in Friday morning trade, after it put up a trading statement after the market's close on Thursday.  

Exxaro expects full-year earnings of between R1,35bn and R1,5bn

By: Liezel Hill     7th February 2008 Diversified resources group Exxaro Resources expects to report earnings and headline earnings of between R1,36-billion and R1,5-billion when it publishes full-year results later this month. 

US recession would rout base metals prices - economist

By: Jade Davenport     4th February 2008 Canada-based Dundee Wealth Economics chief economist Dr Martin Murenbeeld said on Monday that a looming recession in the US was the most immediate factor challenging the sustainability of curently-high commodity prices. 

HudBay Minerals replaces CEO, shares gain

By: Liezel Hill     25th January 2008 Canadian miner HudBay Minerals announced unexpectedly, late on Thursday, that its president and CEO, Peter Jones, had resigned and would be replaced, effective immediately, by chairperson Allen Palmiere. 

Drilling in DRC may yield high gold deposits

By: Sylvester Haskins     18th January 2008 Pan-African resources company, Mwana Africa plc, reports positive results from its gold drilling programme in its Zani-Kodo joint venture with State-owned gold mining company Okimo, in the Democratic Republic of Congo (DRC) where it holds exploration rights in the Orientale province, the company... 

Aim Resources reshuffles board, looks to appoint new MD

15th January 2008 Emerging African zinc producer Aim Resources announced on Tuesday that it was looking to appoint a new MD, as current Mark Flory had been appointed as nonexecutive chairperson. 

Long-lead items ordered for Mexico copper/cobalt project

By: Liezel Hill     14th January 2008 Vancouver-based Baja Mining has begun placing orders for the construction camp and several long-delivery-time items for its Boleo copper/cobalt project, in Mexico, the firm said on Monday. 

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