Preliminary estimates from Metals Economics Group’s (MEG) Corporate Exploration Strategies (CES) study indicate that 2011 nonferrous exploration budgets will exceed $17 billion for expenditures related to precious and base metals, diamonds, uranium, and some industrial minerals.
Zinc Mining News
Alexco Resource Corp. (TSX:AXR) posted a banner year in silver production and sales, as the Vancouver-based company made the successful transition from mine developer to producer. With production starting on January 1st at its Bellekeno silver-lead zine underground mine in Canada's Yukon Territory, Alexco managed in the first six months to produce 5,059 tonnes of lead-silver concentrate and 2,788 tonnes of zinc concentrate, leading to sales of 7,956 tonnes of concentrate and revenues of $38.269 million.
Firestone Ventures Inc.(CVE:FV) reported high-grade zinc-lead-silver results from "La Luna" project, 80 km north of Guatemala City, Guatemala.
ATAC Resources Ltd. intersects 188.07 g/t silver, 8.69% lead and 6.06% zinc over 37.91 m at its Ocelot silver-lead-zinc target-Yukon
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 13, 2011) - ATAC Resources Ltd. (TSX VENTURE:ATC) is pleased to announce the final 2011 drill results from its Ocelot silver-lead-zinc discovery. The Ocelot is located within the Rau Trend in the western portion of ATAC's 100% owned Rackla Gold Project in the Keno Hill Mining District, Canada's second largest primary silver producer. The 2011 diamond drilling program consisted of 19 holes totaling 3784.75 m. The first five holes returned encouraging results near surface (see news release dated June 13, 2011).
SYDNEY (Reuters) - A new zinc mine in west Africa is due to start up in mid-2012, just as some of the world's largest deposits are winding down, creating the first window in years for new suppliers in a chronically over-supplied market. The Glencore
Overland Resources Limited (ASX:OVR) announce potential expansion of open pit at the Darcy zinc project
Perth, Australia, Sep 8, 2011 - (ABN Newswire) - Overland Resources Limited (ASX:OVR.AX) is pleased to advise that its 10,000 metre diamond drilling program at the Yukon Base Metal Project is nearing completion. A total of 67 holes for more than 9,950 metres have been drilled.
CORPUS CHRISTI (Kiii News) - Near refinery row, the demolition of the old Asacro/ Encycle Zinc Smelting Plant continues. The company in charge of that 3 point 6 million project says they can't just go in and knock everything down because that could send
SPOKANE, WASHINGTON--(Marketwire - Sept. 9, 2011) - Josephine Mining Corp. (TSX VENTURE:JMC) ("JMC" or the "Company") is pleased to announce a drilling update on the Turner Gold Project. The company continues to fast track its progress with further drilling, logging and assaying at its Turner Gold Project in O'Brien, Oregon.
Extending the Neves-Coro mine in Portugal will add $100 million to the net present value (NPV) and push the life of the mine into 2026, Lundin Mining (TSX:LUN) said today. The company released the feasibility results for Lombador Phase 1, which plans to exploit the uppper portions of the Lombador zinc/copper ore bodies.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 6, 2011) - Selwyn Resources Ltd. ("Selwyn") (TSX VENTURE:SWN) is pleased to announce the first drill results from the recent drilling of the XY West deposit at the Selwyn Project, Yukon. The drill results are part of the exploration and definition drilling program of the XY West deposit conducted by Selwyn Chihong Mining Ltd. ("SCML"), the joint venture company equally owned by Selwyn and Chihong Mining Canada Ltd. Chihong Mining Canada Ltd. is a wholly owned subsidiary of Yunnan Chihong Zinc and Germanium Co. Ltd
Commodity markets were hit this week by shock news that the United States created no jobs in August, sparking speculation that the world's biggest economy could be heading for a double-dip recession. Analysts said the data bolstered expectations that the US Federal Reserve could soon decide to implement another round of quantitative easing -- dubbed QE3 by traders -- to help breathe new life into the struggling economy.
Shares of Sunridge Gold rose a brisk 7% in Thursday morning trade after the junior explorer gave an update on drilling at its zinc-gold-copper deposit in the Horn of Africa only to end the day down 2.8%. Near triple the usual number of shares changed hands on the Toronto venture exchange. Investors in the the Vancouver-based company, which apart from its flagship Asmara project in Eritrea also has assets in another paragon of political instability, Madagascar, have enjoyed a wild ride over the more than ten years the company has been listed – an unlucky few snapped up shares in the company at $6.40 in 2003 and those who saw value in the company at $1.30 at the start of 2011 would have lost almost half that investment.
VAL-D'OR, QUEBEC--(Marketwire - Sept. 1, 2011) - Cartier Resources Inc. (TSX VENTURE:ECR) ("Cartier") is pleased to announce that additional results from channel samples returned 1.5 % copper and 100 g/t silver over 19 meters and 629 g/t silver, 1.2 % copper and 1.4 g/t gold over 2 meters within a broader interval grading 1.0 % copper and 80 g/t silver over 32 meters on the Cadillac Extension project located 115 kilometers east of Val-d'Or in the province of Quebec. Other results returned 2.7 % copper, 1.1 % zinc and 67 g/t silver over 3 meters within a wider interval grading 0.7 % copper and 27 g/t silver over 20 meters. One section returned 6.6 g/t gold and 237 g/t silver over 1 meter. These are the latest results from trenching conducted on the Langlade polymetalic zone, 45 samples are pending for final results.
Aviva Corporation Ltd is pleased to announce it has recently completed a maiden resource on the Bumbo Base Metal Deposit in West Kenya. "The initial resource has exceeded our expectations in terms of tonnes and grade," said Mr Lindsay Reed, CEO of Aviva.
ABB, leading power and automation technology group, was recently contracted to supply the drive system for a new semi-autogenous grinding (SAG) mill at Neves Corvo, Portugal.
China said on Wednesday that it would appeal against a World Trade Organisation ruling that it illegally restricted exports of certain rare and speciality metals and minerals including bauxite, coking coal, fluorspar, magnesium, manganese, silicon metal, silicon carbide, yellow phosphorus and zinc. The United States, European Union and Mexico argued that the minerals are key inputs for numerous industries and any cut in supplies could lead to sharp spikes in world prices. The complainants fear a similar situation to rare earths where the price of certain elements have tripled thanks to export cuts and China's virtual monopoly on production.
BASE metals producer Perilya has posted a 15% jump in profit for the first half of the 2011 calendar year, despite the robust Australian dollar and weakening zinc and lead prices.
Stakeholders in the mining sector said they are targeting to create about two million direct jobs for Nigerians from the sector. Under the Progressive Miners Empowerment Association (PMEA), the miners said if about N200 billion is injected into the sector, it would be revived.
Reuters reported that Japan's refined zinc exports for June halved from a year earlier to 4,707 tonnes as production remained disrupted by the massive earthquake in March.
Blackthorn Resources recently announced it has intersected high-grade silver mineralisation in all of the first three holes completed at the Perkoa JV Project in Burkina Faso, West Africa.
Canadian company Silvercorp Metals Inc. said Monday it is buying a controlling share in two Chinese mining companies for about $10.4 million, including debt. Silvercorp will hold a 90 percent stake in Zhongxing Mining Co. Ltd. and Chuanxin Mining Co. Ltd. It will pay $4.3 million cash for the two companies and assume $6.1 million in debt. Silvercorp is making the purchase through its majority-controlled Henan Found Mining Co. unit.
American Manganese Initiates Detailed Exploration on Their 100% Owned Rocher Deboule Iron Oxide Copper Gold Target
Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (TSX VENTURE:AMY)(PINK SHEETS:AMYZF)(FRANKFURT:2AM) ("American Manganese" or the "Company") is pleased to report the Company has initiated a detailed exploration program of prospecting, mapping, soil and rock sampling and limited geophysics on their 100% owned, 9956 hectare (24,602 acre) property located 10 km south of New Hazelton, BC.
Finland's Talvivaara missed Q2 earnings expectations and produced 3,951 tonnes of nickel in the quarter adding that its nickel output for the year will be towards the lower end of its 22,000 to 28,000 tons guidance. The miner warned that the short term outlook for nickel – which has declined to its lowest level in 2011 at around USD 21,000 per tonne – is uncertain and volatility across the base metals complex is likely to remain high. On the other hand, the global nickel market has remained in a deficit throughout the first half of the year with LME nickel stocks currently around their lowest levels since early 2009.
London and Toronto-listed Noventa announced Friday that it placed 73,600,000 new ordinary shares at a price of 25 pence each with institutions and other investors to raise roughly $30.3 million. The specialty metal miner with operations in Mozambique is also extending an offer to shareholders to subscribe for a total of 17,500,000 new ordinary shares to raise up to a further US$7.2 million. In London stock in Noventa duly plunged 24% to 27.75 pence in line with the placing price of 25 pence.
The world Zinc surplus for the first half of 2011 has increased by 8% compared to the entire 2010, with the Chinese inventories at historically highest levels reported the World Bureau of Metal Statistics (WBMS)