Zinc Top Stories

Nevsun loses bid to stop lawsuit over alleged forced labour in Eritrea

Until today, Canadian miners operating abroad could only be sued…

Excellon to acquire Otis in all-share deal

Otis holds the Kilgore gold project in Idaho.

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Low zinc and copper levels associated with miscarriages

Low levels of zinc and copper are associated with miscarriages in pregnant women, Digital Journal reports. Scientists at the University of Granada compared data from two groups of women — with one half having suffered miscarriages and the other half who had normal pregnancies — and found that lower levels of zinc and copper in the women who had miscarriages, suggesting a deficiency of one or both elements could be involved.

Peru’s president signs mining law

President Ollanta Humala signed Peru's new mining law on Wednesday, which will raise about $1 billion a year. The money is to be directed to the poorest parts of the country and help build schools and infrastructure. Mining companies will now pay taxes based on their operating profits, ranging from 1% to 12%, rather than old regime where they paid 1% to 3% based on sales. There will also be a windfall profits tax ranging from 2% to 8.4% of a company's net profits.

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London Metal Exchange could sell out

Bloomberg reports the London Metal Exchange which handles some 80% of global trade in industrial metals futures, told members it may get a takeover offer after multiple approaches from potential bidders. The 134-year-old exchange is owned by the trading houses and banks like Barclays and JP Morgan that trade on the market which keeps fees low. Despite talk of an $1.2 billion offer as far back as 2008, it is unclear how receptive they would be to selling out after a senior executive of the exchange told Reuters in March it had no plans to change its independent status despite increasing competition, particularly in Asia.

Teck to spend $685 million on upgrades

Teck Resources Limited (NYSE: TCK) will invest $210 million at its Trail Operations to increase its capacity to recycle end-of-life electronic waste and $475 million in a mill modernization project at Highland Valley Copper. Both operations are located in British Columbia. The No. 4 Furnace Project at Trail Operations includes the construction of a new slag fuming furnace and settling furnace that will integrate into the existing lead smelting process. Construction on the project will begin in 2012 with completion scheduled for 2014.

Russia in zinc mining deal with Iran

Russia has agreed to develop an Iranian zinc deposit that is among the largest in the world in a deal involving an Iranian bank that faces international sanctions, the Russian business newspaper Kommersant reported on Tuesday. The agreement to develop

Selwyn Resources Ltd.: new high-grade mineralization extends XY West to the Northwest

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 19, 2011) - Selwyn Resources Ltd. ("Selwyn") (TSX VENTURE:SWN) is pleased to provide additional information on the discovery of zinc-lead mineralization northwest of XY West deposit, as described in the August 15, 2011 news release, within an adjacent fault panel. These new drill results support the significant mineral potential of the Selwyn Project now that high-grade zinc-lead mineralization has been traced over 2,900 metres in the XY Central-XY West deposits area. This drilling was 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. The location of the new drill holes and lenses can be found on drill plan maps available at www.selwynresources.com.