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MMGÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s Dugald River zinc mine is officially open near Cloncurry

 

The first ore heading to the port of Townsville may be a few weeks away yet but an official opening of MMG's Dugald River zinc mine on Wednesday was hailed as a significant event.

At full production Dugald River will be one of the top 10 zinc mines in the world.

 

Located 65km north-west of Cloncurry, Dugald River will process an average 1.7 million tonnes per annum of ore to initially produce 170,000 tonnes of zinc in concentrate, plus by-products
.

http://www.northqueenslandregister.com.au/...ncurry/?cs=4735

 

Note - MMG were the owners of the Century Zinc Mine which they closed to concentrate on Dugald - MMG has since sold Century to NCZ (New Century Zinc)

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Zinc market focus turns to new supply, but don't forget Quebec: Andy Home

Reuters Staff

LONDON, Nov 15 (Reuters) - The Dugald River zinc mine in the Australian state of Queensland made its maiden shipment of concentrates earlier this month.

 

Once ramped up to full speed, the mine will produce around 170,000 tonnes per year of contained metal.

 

It is the most tangible sign yet of the coming wave of new zinc supply, timed to capitalise on decade-high prices and a structural shortfall of raw materials.

 

All over the world, it seems, geologists are revisiting old mine plans in a collective new zinc rush.

read more - https://www.reuters.com/article/zinc-tightn...e-idUSL8N1NL4Q7

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Zinc price dodges bullet

Frik Els | about an hour ago

 

After an initial dip zinc prices rose on Tuesday after top producer of the metal Glencore held its output forecast steady for next year.

 

On the LME, zinc was exchanging hands for $3,170 a tonne on Tuesday up more than 1% from the previous close, bringing gains for 2017 to 23%.

 

The metal has more than doubled since hitting multi-year lows in January 2016 which prompted Swiss-based Glencore to curtail production to shore up prices.

 

Glencore told investors Tuesday it would restart its Lady Loretta mine in the first half of 2018, but added that it expects zinc output to fall slightly to about 1.09 million tonnes from 1.1 million tonnes this year.

 

In 2019, Glencore sees its zinc output creeping up to 1.16 million tonnes.

 

"Based on their guidance numbers it does remain fairly constructive for zinc. The market was expecting more of an immediate supply increase," said ING commodities strategist Warren Patterson.

 

However, he added that ING expects overall global zinc supply to increase next year with the addition of capacity coming online in Australia (MMG's Dugald River project) and South Africa (Vedanta's Gamsberg mine).

http://www.mining.com/zinc-price-dodges-bullet/

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extract - Goldman has more good news for copper, zinc price

Frik Els | 38 minutes ago

 

The rally for zinc has been even more spectacular with the metal, mainly used to galvanize steel, ending 2017 at a decade high of $3,330 a tonne. Zinc has more than doubled in value after a slump that ended around the same time copper hit bottom two years ago.

 

Reuters quotes investment bank Goldman Sachs as saying zinc demand looks rosy for the first half of the year while the New York-based firm prefers copper over aluminum over the longer term:

 

"Concern about a sharp slowdown in metals demand as the country adopts a new 'quality over quantity' growth model may be overblown," it said, adding that metal producers outside China are set to gain.

 

"Ongoing supply-side reforms and environmental cuts in China translate into higher commodity prices and less Chinese production, both of which benefit ex-China producers."

http://www.mining.com/goldman-good-news-copper-zinc-price/

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Zinc prices hit highest in over a decade on supply concerns

Reuters | 32 minutes ago

LONDON, Jan 5 (Reuters) ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ Zinc hit its highest in more than a decade on Friday as concerns over market tightness persisted, while copper hit a two-week low as Chinese investor interest was muted with the Lunar New Year holidays looming.

 

Zinc stocks held in London Metal Exchange warehouses MZN-STOCKS fell 250 tonnes to their lowest since late 2008, data showed on Friday, down about a third from their October peak.

 

The global zinc market deficit widened to 36,900 tonnes in October from a revised deficit of 35,900 tonnes in September, the latest industry data show.

 

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“WeÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢ve always seen Q1 2018 as the peak of the zinc rally and were looking previously for $3,400/t. Zinc has got very strong momentum, itÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s entirely possible it could pierce that level on a three- to six-month basis,ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ said Macquarie analyst Vivienne Lloyd.

 

But she added: ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Zinc supply is slowly coming back and the greater length of time zinc displays a large price disparity to aluminium the more likely weÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢ll see substitution.ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ

http://www.mining.com/web/zinc-prices-hit-...upply-concerns/?

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Zinc price will vault $4,000 within months ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ report

Frik Els | about 8 hours ago

http://www.mining.com/zinc-price-will-vaul...-months-report/

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Glencore in ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¹Ãƒƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“hiring frenzyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢ as it readies to restart Lady Loretta zinc mine

Cecilia Jamasmie | about 12 hours ago

 

Swiss miner and commodities trader Glencore (LON:GLEN) has begun hiring for a number of new positions at its Lady Loretta zinc mine in Australia, which is slated to reopen in the first half of this year.

 

Production at the Queensland-based operation was halted in 2015 because of falling zinc prices. Since then, the metal has more than doubled, so Glencore ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâہ¡ÃƒÆ’‚ the worldÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s No.1 zinc producer ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâہ¡ÃƒÆ’‚ announced in December it would resume mining at Lady Loretta.

 

According to Townsville Bulletin, the restart will create 250 jobs, including project and geotech engineers, maintenance managers, shift supervisors, mechanics and dozen other positions.

 

The reopening is planned in phases, with the mine expected to produce 100,000 tonnes of zinc this year and an additional 60,000 tonnes in 2019.

 

Lady Loretta only represents about a third of the production that Glencore suspended two years ago. In August, chief executive officer Ivan Glasenberg said the company had about 500,000 metric tonnes of zinc capacity that would be restarted at ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“the right point in the cycle.ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ

 

Other than that imminent supply there is additional capacity coming online in the short term, including MMG's Dugald River project in Australia and Vedanta's Gamsberg mine in South Africa.

http://www.mining.com/glencore-hiring-fren...mine-australia/

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Last hurrah for the zinc price

Frik Els | 2 days ago |

Zinc hit a four month low of $3,135 a tonne on Thursday, down more than 12% from its decade high achieved mid-February.

 

Rising fears about trade protectionism have taken the shine off most base metals but zinc's bearish outlook has more to do with new supply; and lots of it.

 

The metal, mainly used to galvanize steel, has more than doubled since hitting multi-year lows in January 2016 after the shutdown of major mines including Australia's Century, the Lisheen mine in Ireland and top producer Glencore's depleted Brunswick and Perseverance mines in Canada.

 

Just to throw fuel on the fire the Swiss giant curtailed production at its operating mines in Australia. But in December Glencore said it would restart its Lady Loretta mine while keeping its total output steady at under 1.1m tonnes.

 

The centre cannot hold ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ prices are incentivising more mining tonnes in and our supply-demand balances are now pivoting back towards sufficiency and then surplus in the years ahead

More ominously CEO Ivan Glasenberg said the company had about 500kt of zinc capacity that would be restarted at ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“the right point in the cycle.ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ

 

The spectre of fresh tonnage did little to deter zinc bulls who pointed to historically low stockpiles, ultra-low spot treatment charges of just $20/t (paid to refiners by miners and the best indicator of physical market conditions) and the environmental clampdown in China, responsible for a third of global output of roughly 13.2m tonnes last year.

 

But few expect the zinc market to stand up to the flood of new supply over the next couple of years.

 

Some 880kt of additional capacity will come on stream in 2018, about two-thirds of it from re-openings and expansions according to the International Lead and Zinc Study Group (ILZSG).

 

New mines include MMG's Dugald River project in Australia (170ktpa since November for 28 years), Vedanta's Gamsberg mine in South Africa (250ktpa with 30 year life-of-mine) and the Castellanos operation in Cuba (100ktpa for 22 years). The Century mine is also getting a new life and tailings retreatment at the giant mine is enough for an additional 264ktpa.

 

Further out there is also no shortage of additional supply. Among others, major projects that could be brought into production in the medium term include Arizona Mining's $1.2 billion Hermosa project (95ktpa), Ironbark's $500m Citronen project in Greenland (up to 200ktpa) and the $890m Khnaiguiyah project in Saudi Arabia (80ktpa).

 

A new report from investment bank Macquarie argues that while the price could revisit recent highs over the next few months, it would be zinc's "last hurrah":

 

Thus we should expect zinc prices to move lower, and we see an average of $2,850/t in Q4, just under $2,600/t average in 2019, and an eventual journey to around $2,100-2,200/t at the end of the [5-year] outlook period.

 

Today's price for zinc, used mainly to galvanize steel, compares to an all-time high of $4,580 struck in November 2006. During the depth of the global financial crisis zinc came close to falling into triple digits.

http://www.mining.com/last-hurrah-zinc-price/

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  • 2 months later...
South32 has made a $US1.3 billion ($A1.75 billion) bid to take sole ownership of US-focused Arizona Mining.

 

The Australian business, which already owns 17 per cent of the zinc, lead and silver miner, says the directors of Arizona Mining will unanimously recommend shareholders accept the all-cash offer.

 

South32 chief executive, Graham Kerr called Arizona Mining's Hermosa Project in Santa Cruz County, Arizona, "one of the most exciting base metal projects in the industry".

https://thewest.com.au/business/mining/sout...g-ng-b88869454z

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