Zinc Mining News

Teck announces Fording River collective agreement and related charge to earnings

Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) announced today that employees at its Fording River operation in southeastern British Columbia have ratified a new five-year agreement, replacing an agreement which expired on April 30, 2011. "Our discussions with the union were very productive and we are pleased to have reached a new five-year collective agreement at our Fording River operation," said Bill Fleming, Vice President, Operations and Engineering.

CuOro initiates aggressive Colombian exploration program

In the wake of a $15 million financing, CuOro Resources (TSX-V: CUA) is expanding what was already an ambitious start to its first drill program in Colombia. Since closing its qualifying transaction - options on two groups of Colombian minerals concessions - and joining active trading on the TSX-Venture board, CuOro has quickly raised cash, first through a $10 million financing announced in February, then through the latest $15 million financing, which brought its working capital to $30 million.

Zijin Mining to be one of Glencore's cornerstone investors

China's Zijin Mining Group Co Ltd said on Friday it would invest $100 million as a cornerstone investor in the initial public offering of commodities group Glencore. The investment in the up to $11 billion IPO will be subject to a six-month lock up period, Zijin said in a filing to the Hong Kong bourse.

Strong metals prices boost Vedanta full year earnings 29%

India-focused miner Vedanta Resources (VED.L) posted a 29 percent jump in full-year earnings per share, on the back of strong metal prices and a background of robust demand for commodities. Vedanta, with operations in India, Australia and Zambia, said on Thursday basic EPS came in at 283 cents.

Alexco releases initial production results for Bellekeno Mine; On track for 2011 silver production of 2.8 million ounces

Alexco Resource Corp. (TSX:AXR)(NYSE Amex:AXU) today reported the first full quarter production results from its newly commissioned Bellekeno mine and mill in the Keno Hill Silver District, Yukon. First Quarter Highlights: * Silver Production of 447,524 ounces * Lead Production of 3,682,304 pounds * Zinc Production of 1,334,144 pounds

China's Jinchuan silent on media reports regarding Lundin Mining bid

No word yet from China's Jinchuan Group as to whether the company is officially in the market for Canada's Lundin Mining. Canadian media reports claim a consortium headed by Jinchuan, which includes sovereign wealth fund China Investment Corp., was planning a takeover bid for the Canadian base metals miner.

Caterpillar Surprises With Massive Profit Gain

Caterpillar (NYSE:CAT) reported Friday a surprising five-fold jump in first quarter profits, reaching an all-time quarterly record as the company benefits from a recovering economy and a resulting boost in construction equipment demand.

Today in Commodities: Tipping Point

We feel that some commodity prices are getting overextended and very close to their tipping pint. Far from an ultimate top but ready for a healthy correction. Crude traded to its highest level in two […]

A longer-term view of inflation: industrial metals vs. gold

I found an interesting dataset at the IMF of commodity prices going back to 1980. What makes it interesting is to look at the longer-term price trends of some of the industrial metals you don't often don't see charted, such as aluminum, tin, lead, zinc, and nickel.

Commodities: No bubble here

With commodity prices up so much over the past several years, you can forgive long-term value investors for giving them a miss. Who wants to risk exposure to another asset bubble so soon after the dot-com implosion and the U.S. housing mess?

Today in Commodities: Status quo from Fed

Nothing new to report from Uncle Ben and his cronies but at least there was more talk of inflation with rising commodity prices. The $2.50 range carried on in Crude again today as traders try […]

Trevali signs term-sheet with WestLB for up to US$30,000,000 debt facility for Santander zinc-lead-silver mine development in Peru

Trevali Mining Corporation ("Trevali" or the "Company")(TSX:TV)(OTCQX:TREVF) announces that it has signed an engagement letter and indicative term-sheet with WestLB AG, New York Branch ("WestLB") for a potential secured term loan of up to US$30,000,000 […]

Trevali Mining getting $30m loan to fast-track production

With a new loan close to being secured, Trevali may soon join the ranks of bona fide miners, producing at two poly-metallic mines in Peru and New Brunswick.

Capstone Mining to acquire Far West Mining in $725 million deal; shares down seven percent

Capstone Mining will acquire all the issued and outstanding shares of Far West Mining. Total transaction value will be Can$725 million. Capstone released details of the agreement in a press release on Sunday. On Monday morning, Capstone shares (TSE:CS) were down about 7% to $3.93 a share.

Is commodities boom nearing its end?

The commodity bull has shown little sign of running out of steam - until now. Prices began to stumble as soon as a note from Goldman Sachs, the American banking giant, whizzed around trading desks across the globe last week. The broker advised clients to close its profitable "CCCP" play, which involved investing in a basket of crude oil, copper, cotton, platinum and soybeans. The commodities team, led by Jeffrey Currie, argued that after gaining 25pc since December, the risks to the trade had changed.

Hondo Minerals to start-up processing facility at Tennessee mine

Hondo Minerals Corp has announced the expansion of its operational infrastructure in preparation for the opening of a processing facility at the Tennessee mine in Arizona.

NovaGold releases PEA for Ambler project, Alaska

NovaGold Resources released a prefeasibility study today on its 100%-owned Ambler project in northwest Alaska. The Vancouver-based company is exploring the sprawling 36,670-hectare property, which is host to a number of high-grade copper, zinc, lead, gold and silver deposits. According to the PEA, commissioned by SRK Consulting, the property contains 16.8 million tonnes of indicated resources, with 4.1% copper and 6.0% zinc. The inferred category contains 12.1 million tonnes of 3.5% copper and 4.9% zinc.

Goldman’s near-term bearish turn on commodities

Yesterday was quite a weak day in the commodity markets, with a few staging outside reversals on their charts. It appears some (much?) of this weakness was due to a report by the very influential […]

China’s commodity feast far from over

When a Chinese vase that might be barely a century old fetched $18 million recently at a Sotheby’s auction in New York—obliterating its pre-sale estimate of just $1,000—that was surely based on inflation fears and money printing by the Federal Reserve. Conversely, when the sale of a much more esteemed ceramics collection failed to live up to the hype Thursday night in Hong Kong, clearly worries about slowing economic growth were to blame, exacerbated by Chinese monetary tightening.

Glencore to seek as much as $12.1bn in London, Hong Kong IPO

Glencore International plc plans to raise up to $12.1 billion in a London and Hong Kong IPO, according to a term sheet seen by Reuters on Thursday, cashing in on a resources boom and giving the trading giant the fire power to grow through acquisitions. The much anticipated initial public offering, set to value the company at up to $60 billion, will mark the end of four decades of closely guarded privacy for the world's biggest commodities trading company.

Azure Minerals signs $13M copper exploration joint venture with Japanese state company

Azure Minerals, a Mexico-focused precious and base metals explorer, said today it has entered into an agreement to form a joint venture with a Japanese state-owned corporation to explore the El Tecolote Project in Sonora, Mexico. According to the press release, Japan, Oil, Gas and Metals National Corporation (JOGMEC), a Japanese state-owned entity, will spend $US5 million over three years, in order to earn a 51% interest in El Tecolote. The company can earn another 19% stake by spending a further $8 million, which would take its total equity in the project to 70%.

Buenaventura announces strike by contractor workers at the Uchucchacua mine

Compania de Minas Buenaventura S.A.A. ("the Company" or "Buenaventura") (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru's largest publicly-traded precious metals mining company announced today that Contractors at the Uchucchacua Mine commenced a strike related to […]

Selwyn announces Scotia mine mineral resources

Selwyn Resources Ltd. (TSX VENTURE:SWN) ("Selwyn") is pleased to announce a NI 43-101 compliant mineral resource estimate for the Scotia mine (formerly known as the Gays River mine) in Nova Scotia that includes both the […]

Canadian M&A deal volume to grow led by base metals miners

Miners, especially of base metals, will drive Canadian merger and acquisition activity for the rest of 2011, although oil and gas and financial services will also be significant, bankers said on Tuesday.

Banks circle Donner Metals

Donner Metals Ltd. (DON-TSX-V) is currently constructing a joint venture zinc mine with Xstrata Zinc Canada (XTA-L) on the Bracemac-McLeod deposit in Québec, while exploring a number of different financing scenarios.