HudBay Minerals now plans to build a new C$264-million concentrator and paste backfill plant at its Lalor zinc/copper/gold project, in Manitoba, rather than refurbishing an existing facility at the nearby Snow Lake operation.
Zinc Mining News
Canadian base metal and coal miners were the nation's economic bright spot in April, according to report from Statistics Canada released on Thursday. The study, which looked at gross domestic product by industry, found that mining grew strongly while the rest of the economy was mostly flat.
Mexican mining production rose 22% in April from the year-ago month, led by a big jump in output of copper, the National Statistics Institute, or Inegi, said Thursday. Copper production rose 77% to 32,324 metric tons.
[miningmx.com] -- THE latest Metorex annual review – which covers the 18 months to end-December 2010 following a change to its financial year-end – is already out of date due to the pace of developments this year. But one comment from chairperson Rob
Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) ("Teck") announced today that it has priced its previously announced offering of senior unsecured notes. Teck will issue US$2.0 billion in aggregate principal amount of notes, consisting of US$300 million aggregate principal amount of 3.15% notes due 2017, US$700 million aggregate principal amount of 4.75% notes due 2022 and US$1.0 billion aggregate principal amount of 6.25% notes due 2041.
The world seems set to enter a period of slower growth and higher inflation and investors would do well to gain some direct exposure to commodity markets, said Barclays Capital MD Kevin Norrish on Wednesday.
Investing directly in commodities through indexes gives an investor more direct exposure to commodity prices than investing in the producers, whose returns were more aligned with equities.
Silver Quest Resources Ltd. has entered into an agreement with a syndicate led by Paradigm Capital Inc. and including Stonecap Securities Inc. and Scotia Capital Inc. in respect of a private placement financing to be undertaken on a best efforts basis for gross proceeds of up to C$8 million. In addition, the company will complete a non-brokered private placement of units for gross proceeds of up to C$2 million.
China’s massive appetite for commodities is creating concerns for the global economy, the environment and workers in other countries. In a series of reports, VOA is looking at the economic power modern China wields. Chinese government and company officials are signing agreements at a dizzying pace around the world, including in places where few other foreigners invest.
Zijin Mining Group Co Ltd said it plans a $280 million U.S. dollar-denominated bond issue, raising capital to acquire copper concentrate overseas for a smelter project of its unit. In a filing to the Hong Kong bourse on Tuesday, Zijin Mining said the bonds would have maturity of five years and a fixed interest rate of 4.25 percent per year during its term with interest payable semi-annually.
Government of Canada, Teck and Micronutrient Initiative announce partnership to implement lifesaving zinc treatment programs
The Micronutrient Initiative (MI) and Teck Resources Limited (Teck) announced today they are joining hands in a new partnership to develop and sustain zinc treatment programs to help save children's lives.
As Nyrstar Resources Canada formally commenced its bid for Breakwater Resources, Breakwater's board declared a special dividend of C$0.50 for its shareholders.
Horsehead Holding Corp is to proceed with plans to construct a new lower-cost, environmentally-friendly zinc production facility. The new facility will replace its older smelter technology and will significantly reduce emissions of greenhouse gases and particulates into the atmosphere. The plant will utilize the ZINCEXTM SX technology.
Bloomberg reports that commodities dropped the most in seven weeks after the International Energy Agency announced plans to release emergency oil supplies.Gold for August delivery fell 2.4 percent to $1,516.60 an ounce, the first drop in eight sessions, and palladium for immediate delivery declined 2.2 percent to $747.25 an ounce.
The Diversified miner said Wednesday that regulators have approved a plan, that will take effect from June 27th, allowing the group to buy back as much as 6.9% of its B class shares.
Colibri reports more drill results at Ramard; 311 grams per tonne silver, 2% lead, and 3.4% zinc between 37 and 38 meters depth, plus multiple intervals of silver-lead-zinc.
Colibri Resource Corporation reports final results from a 2400 meter drill program at the Ramard silver project, in Sonora, Mexico. The Ramard property consists of over 4000 hectares of mineral concessions located 100 km north of the city of Hermosillo, Sonora, wholly owned by Colibri's Mexican subsidiary, Minera Halcones. The Ramard property contains numerous historical artisanal silver mine workings.
Good results continue to flow from drilling in the Stonepark region in Limerick
The board of the London Metal Exchange has been unable so far to reach agreement on a way to resolve aluminum access issues from warehouses owned by a unit of Goldman Sachs. However, the U.K. Office of Fair Trading has determined there are no obvious competition issues meriting further investigation of complaints that ownership of warehouses give certain metals market players' unfair advantage.
After three days without power, Alexco Resources (TSX: AXR) said that electricity is once again flowing and that it had re-started the mill at its Bellekeno silver-lead-zinc mine in the Yukon. Mid this week Alexco had reported there were three downed power poles along a remote section of the main transmission line upon which it depends. While Alexco had back-up generators to keep key safety and environmental systems going, it was forced to shut its mills down.
Reuters reports that zinc prices ended May slightly firmer, recovering from an early rout but the prospect of a sizeable supply surplus this year and next will continue to weigh on the market, especially if other metals weaken. Ms Claire Hassall of consultancy CHR Metals said that market watchers were concerned about weakness in the Chinese economy. The general feeling is that demand is not particularly strong in China at the moment using latest car sales figures as an illustration of the source of these worries.
After talks began last September and no other offers materialized, Canadian zinc miner Breakwater Resources (TSX: BWR) announced early Wednesday that it had accepted Belgium based metals producer Nyrstar NV C$7 per share all-cash offer. Nyrstar will pay around C$619 million for Breakwater; an offer Breakwater CEO David Petroff called "an attractive and fair premium to the current share price," thanks to a 44% premium.
Mining Weekly reported that Baja Mining’s (TSE:BAJ) copper/cobalt/zinc project in Mexico is progressing on schedule. The market news is quoted as saying: “The Boleo project is currently meeting its scheduled milestones, with environmental compliance and surface mining activities continuing in targeted areas, the processing plant and road earthworks well underway, in addition to the site camp, utilities and services being finalized,” the company said in a statement.
Gold miners are expanding their focus in Africa to the northeast of the continent, a region that in the past, was largely bypassed by gold explorers. Northeast Africa already has a few gold deposits in the threshold size of one million troy ounces (the size limit the usually piques the attention of bigger miners.)
Heatherdale Resources announced that it has closed the previously announced non-brokered private placement of 11,314,255 units of its capital at a price of $0.83 per unit for gross cash proceeds of $9,390,831. Each unit consists of one common share and one warrant entitling the holder to purchase an additional common share at a price of $1.20 for a period of 18 months from the closing of the private placement. The common shares and warrants comprising the units are subject to a four month hold period from the closing date, which hold period expires on October 15, 2011.
Nyrstar (NYR.BR: Quote), the world's biggest zinc producer, is to buy Canada's Breakwater (BWR.TO:Quote) for C$619 million ($639 million) as it carries out its strategy to buy more mines and increase its self-sufficiency. Belgium-based Nyrstar said on Wednesday it will pay C$7.00 per share in cash, and Breakwater shareholders will also get a special dividend of C$0.50 in cash.