Bathurst Mining Camp construction moves forward in New Brunswick – by DCN NEWS SERVICES (Daily Commerical News – May 13, 2015)

BATHURST, N.B.—A Vancouver-based company is moving forward with construction and re-start activities at its mine and mill complex located in the Bathurst Mining Camp of northeastern New Brunswick.

“As we are about to begin production at our Caribou Mine here in the Bathurst Mining Camp, we are very appreciative of the support for the new fiber-optic data and communications infrastructure,” said Mark Cruise, president and CEO of Trevali Mining Corp.

“The initiative allowed us to maintain our operational schedule for the mine where about 300 people are currently employed.”

Trevali is a zinc-focused, base metals mining company, which owns the Caribou mine and mill, the Halfmile mine and Stratmat deposit all located in the Bathurst Mining Camp.

The company is currently advancing its 3,000 tonne per day Caribou mill complex and mine, which is located 45 kilometres (km) west of Bathurst, in Restigouche County.

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Zinc bull story to keep rolling – by Kip Keen ( – April 22, 2015)

Base metal is full of surprises (and not always good).

Zinc has started to show signs of life again. In recent weeks the spot price of zinc crossed over $1/lb, up from a one-year low around 0.90/lb.

It seems the prospect of a growing zinc deficit is back in play. The notion of zinc deficit, long forecast by analysts and base metal miners, has already created one false dawn.

With such a deficit in mind, zinc fever caught the market in late 2013 and persisted to mid 2014, driving the price from near $0.80/lb to around C$1.10. LME zinc stocks had peaked after all and begun to fall. Yet eventually so did the price of zinc.

The market realised it may have gushed and rushed on zinc a little early. There was the fact that the stocks were really quite high to begin with, so they would take time to shrink.

Indeed they’re still shrinking and are about half the early 2013 peak. So zinc came back down to earth, plumbing $0.90 this year. Now, the question is, with zinc surging again is this time any different?

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Yukon Zinc granted creditor protection after mine closure (CBC News North – March 19, 2015)

Yukon Conservation Society concerned about $3 million environmental security owed by Wolverine Mine

Yukon Zinc has been granted creditor protection by the Supreme Court of British Columbia, nearly three months after closing the Wolverine Mine, located north of Watson Lake.

The company owes more than $646 million to hundreds of creditors, but documents listed with PricewaterhouseCoopers Inc. show that most of the debt is owed to its parent company, JinDui Cheng Canada Resource Corporation Limited, which has a head office in Vancouver.

About $50 million is owed to businesses in and outside Yukon including Alkan Air, Air North, P.S. Sidhu Trucking, Northern Industrial Sales and Small’s Expediting Services. The Companies’ Creditors Arrangement Act, which Yukon Zinc is protected under, is a federal law that basically gives a company time to try to work out its financial difficulties with its creditors.

In this situation, Yukon Zinc says its creditors are required to continuing providing goods and services to the mine in accordance with existing agreements. Invoices after March 13 will be paid in full by the company, but invoices before that date “cannot be paid.”

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PDAC 2015: Scotiabank’s Patricia Mohr predicts only ‘modest’ recovery (Northern Miner – March 17, 2015)

The Northern Miner, first published in 1915, during the Cobalt Silver Rush, is considered Canada’s leading authority on the mining industry.

Zinc is Mohr’s number one pick, and she forecasts prices will move up to US$1.50 per lb. in 2016.
Copper, she says, will remain flat at about US$2.75 per lb. for the next two years, but longer
term should reach US$3.50 per lb. She estimates the nickel price will reach about US$10.55 per lb.
in 2016. “I think nickel will do exceptionally well,” she predicts, “and Sudbury is going to come
back into its own in 2016.” (Patricia Mohr, Scotiabank Vice President Economics)

Commodity prices as of January this year have fallen below the previous recessionary lows of early 2009, and are now at levels not seen since January 2007, Patricia Mohr, vice president economics at Scotiabank, said during a presentation at the recent Prospectors & Developers Association of Canada conference in Toronto.

China’s massive infrastructure spending program helped lift commodity prices in 2009, but the latest dip in prices, Mohr says, is mostly due to “a fight for market share” in a very lackluster global economy. The world is entering its fourth year when global GDP growth has been just a little over 3% per annum, she warns.

“I’m beginning to realize that 3% per annum — while it is enough to turn over the global economy — it’s not high enough to really put any momentum behind global commodity prices and markets,” she says. “And when you get some capacity expansion, for example, such as in copper, and massive expansion in iron ore, and huge expansion in oil production from U.S. shales, all of this is occurring in a very lackluster market around the world, and leading prices lower.”

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Anglo’s zinc loss now Vedanta’s sweet gain – by Martin Creamer ( – February 25, 2015)

JOHANNESBURG ( – London-listed diversified mining company Vedanta Resources has found itself in a sweet spot as the owner of the zinc assets that Anglo American saw fit to sell off four years ago, when China seemed in perpetual oversupply mode and small operations abounded.

But China is no longer supplying as it did in the past and there have been anticipatory price improvements over the last eight months on the expectation that zinc supply is leaving the market.
The only other London Metal Exchange commodity that is approaching zinc’s current price firmness is aluminium, also because of market pessimism engulfing it for so long.

Meanwhile, the reserves of Anglo’s former zinc assets have been significantly extended under Vedanta’s management, to a point where the India-rooted company will have full payback of its original investment even before the deal’s key Gamsberg asset comes into play.

Vedanta bought Anglo Zinc for $1 338-million in May 2010 and has been investing in underground and near-pit development since 2012. The additional life it has given to the Black Mountain mine in South Africa’s Northern Cape and the Skorpion operations in Namibia has added significant value.

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Company shuts Ross River area mine, lays off workers – by Chuck Tobin (Whitehorse Daily Star – January 26, 2015)

The Yukon Zinc Corp. has shut down its Wolverine Mine southeast of Ross River, resulting in layoff notices for most of its workforce.

The Yukon Zinc Corp. has shut down its Wolverine Mine southeast of Ross River, resulting in layoff notices for most of its workforce. Company spokesman Alex Wu told the Star today operations were terminated last Thursday because of instability in the mineral markets, particularly the price of silver.

Wu could not confirm the exact number of employees affected but expected Yukon Zinc would have an official statement in the next couple of days. The Chinese-owned company is calling it a temporary, three-month shutdown at this point, he said.

“We will see what the situation is in the next couple of months and make a decision to see if there is an opportunity to start up or keep it closed for a bit longer,” Wu said. “We were trying to keep it going longer, but it is down to the point where it is pretty difficult to keep things going.”

Wu said the company has been in contact with its suppliers and is working on new plans to raise the financing to address outstanding debt.

A crew has been kept on to look after care and maintenance of the mine site and mill during the shutdown, he said. Watson Lake Mayor Richard Durocher said this morning he’s already seeing the trickle-down effect in the Yukon’s third-largest community of approximately 1,500.

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Zinc and nickel price upside ‘imminent’: Clarus – by Peter Koven (National Post – January 20, 2015)

The National Post is Canada’s second largest national paper.

There has been a lot of bullish talk in the metals community about zinc and nickel over the past couple of years, as many insiders believe those commodities are poised for a rally. You can include Clarus Securities analyst Mike Bandrowski in that group.

He published a detailed note on Tuesday that suggests zinc and nickel have “imminent” upside and will perform very strongly over the next two years as inventories disappear.

In the case of zinc, Mr. Bandrowski noted the market is already in deficit, and that deficit should get bigger following the closures of the Lisheen and Century mines this year. He said exchange inventories have fallen by more than half over the last two years and should be at “critical” levels later in 2015.

“We believe the lack of funding in zinc mine development and exploration has now caught up with the marketplace and zinc prices will respond in 2015,” he said in a note. “Despite the broad commodity sell-off, zinc has held up quite well, likely an indication of the favourable supply/demand fundamentals.”

Nickel has received more attention than zinc due to an Indonesian export ban on raw ore that was imposed a year ago, which removed about 25% to 30% of global nickel supply.

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COLUMN-Lead, a market desperately seeking a good story – by Andy Home (Reuters India – January 9, 2015)

Jan 9 (Reuters) – Lead was the second worst performer among the major industrial metals traded on the London Metal Exchange (LME) last year. It was close but copper, which came under sustained bear attack over the closing weeks of 2014, just pipped it for the booby prize.

Unglamorous lead is now trading consistently below the $1,900-per tonne level, its weakest performance since the third quarter of 2012.

It’s also trading at a discount of more than $300 per tonne to “sister metal” zinc, so called because both have historically been produced at the same mines.

Trading lead and zinc as a relative value pair is a favoured past-time on the LME “Street” but the gap between the two is now as wide as it’s been since the end of 2008.


Lead’s relative under-performance has caused a good deal of head-scratching among analysts. Or at least those analysts who still care, because this market’s real stand-out feature over the last year or so has been collective apathy.

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Take Glencore’s bullish metal forecasts with a grain of salt – by Kip Keen ( – December 12, 2014)

Glencore makes some worthwhile points on impending metal deficits – but they’re aggressive.

HALIFAX, NS (MINEWEB) – Glencore summarized its particularly bullish outlook on both copper and zinc – two important commodities it mines and trades – in a rather thorough presentation it gave at a recent investors day. All 193 pages here. At the very least, it makes for good reading if you want an overview of multiple metal and energy sectors in terms of supply and demand. Among its predictions two metals stand out: copper and zinc supply deficits.

Copper first.

Glencore gets very bullish and opposes the big research organizations about their views of a coming surplus. A major copper deficit is in the cards instead, Glencore says.

That should be readily apparent in an equation it puts out there on slide 72. It cuts down surplus forecasts for 2015 from a slew of global mining operations – ones relied upon by the likes of Wood Makcenzie, among others such as Brookhunt and the International Copper Study Group (ICSG) – to revise a 390kt surplus (by the ICSG and Brookhunt) – to a 1.4 million to 1.6 million tonne deficit.

Now Glencore’s a bit vague in its equation and numbers and it’s surely aspirational. It tallies 1.8 mt in certain/likely/maybe copper market revisions in terms of supply from mines around the world to deduct from that predicted 390kt surplus. It announces, “=Deficit of 1.4 – 1.6 Mt for 2015?”

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Copper, zinc, pgms – Friedland’s got them all in mega quantities – by Lawrence Williams ( – December 3, 2014)

Robert Friedland’s latest take on his 3 megaprojects in Africa and his forecasts for likely markets are little changed.

LONDON (MINEWEB) – At yesterday’s well attended MineAfrica meeting in London, serial mining entrepreneur Robert Friedland was given virtually unlimited time to close out the day’s talks. He thus spent more than an hour talking delegates through the prospects for platinum group metals, copper and zinc, followed by why one should invest in his company to take advantage of what he sees as a rosy future ahead for the metals sector.

Most of what Friedland said about the metals and his three massive African projects he has said before but nonetheless they are interesting to recount again, with updates, given his remarkable track record in finding mega deposits.

As he is one to tell, his companies found Fort Knox (gold) and then more impressively Voiseys Bay (nickel) and Oyu Tolgoi (copper/gold) although his early near environmental disaster of Summitville (gold) is quietly forgotten. After all he was young then and has since grown older and perhaps wiser – and his almost evangelical speaking presentations have been well polished over the years.

On all the metals he points to global population growth and people’s aspirations to better themselves as being the key drivers for virtually all metals and minerals looking ahead, but particularly for those on which his Ivanhoe Mines company is concentrating.

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The 2015 Metals Outlook Series: Silver, Zinc, Lead – by Cole Latimer (Australian Mining – December 2, 2014)

The market for base metals silver, lead, and zinc is finally seeing moderate action.

The period leading to the global financial crisis saw an explosion of growth, with the sector seeing a 30.9 per cent growth in revenue followed swiftly by a 56.2 per cent growth in revenues, creating a heady market.

However once the GFC hit the bottom swiftly fell out of the market, as prices retreated quickly, and inversely, to the rest of the mining sector.

A 13.2 per cent decline was chased by another period of plummeting revenue, with the sector recording a 43.5 per cent drop in revenue. It recovered briefly in 2010 before seeing another swift fall into negative territory in 2012 before the current lift into even pricing territory.

This, more than many real­ise, had a major effect on the Australian mining landscape as the nation is the largest lead exporter and one of the largest zinc concentrate exporters worldwide. So what lies ahead for the metals?

Much of it relies on the contin-ued weakness of the Australian dollar. IBISWorld research states that overall revenues and the price of the metals are “forecast to increase over the five years through 2018/19 due to the interplay of higher output, stronger US dollar prices for silver, lead, and zinc, and a weaker Australia dollar”.

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Progress seen in Coeur d’Alene River Basin cleanup efforts – by Becky Kramer (The Spokesman-Review – November 25, 2014) [Spokane, Washington]

Cleaning up historic mine waste is paying dividends for water quality in the Coeur d’Alene River Basin, according to a new report published by the U.S. Geological Survey.

The report looked at two decades of water quality monitoring for the Coeur d’Alene River and its tributaries. Since the early 1990s, concentrations of lead, cadmium and zinc have dropped by 65 percent in the South Fork of the Coeur d’Alene River near Pinehurst, Idaho.

Other streams also showed water quality improvements, though most continue to exceed safe limits for heavy metals.

In addition, large amounts of mining waste continue to wash down the Coeur d’Alene River and into Lake Coeur d’Alene, the report said. About 400 tons of lead, 700 tons of zinc and 5 tons of cadmium flow into the lake each year, according to data collected from 2009 through 2013. Most of the metals settle at the bottom of the lake, with some flowing out of the lake and into the Spokane River.

Overall, the report is “good news for the people of the basin,” Rick Albright, the U.S. Environmental Protection Agency’s Superfund cleanup director in Seattle, said in a statement. “We still have a long way to go in our cleanup efforts, but it’s nice to have scientific confirmation that we’ve made solid, measurable progress in reducing metals loads and improving area water quality.”

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Callinex to target high-grade copper- and zinc-rich VMS deposits in Manitoba ( – November 21, 2014)

HANNESBURG ( – TSX-listed CallinexMines has adopted an aggressive new strategy to discover and develop high-grade copper- and zinc-rich volcanogenic massive sulphide (VMS) deposits.

The company has identified its Flin Flon and Pine Bay projects as the focus of future exploration based on potential to host the Flin Flon mining district’s nextVMS deposit. Both projects are located within 20 km by road to Hudbay Minerals’ processing facility in Flin Flon, Manitoba, which is projected to require additional ore in the coming years.

President and CEO Max Porterfield said: “I am eager to lead the renewed exploration focus on VMS deposits within the Flin Flon mining camp. Prior to the 2011 spinout from Callinan Mines, the company has benefited from several VMS discoveries based in its project portfolio, including the Callinan and 777 mines.

“Additionally, existing infrastructure and Manitoba’s favourable permitting environment can be leveraged to significantly reduce capital costs and lead times to production.”

He added that the strategic shift in focus “comes at a time when the zinc market faces a medium-term supply deficit and copper continues to have positive long-term fundamentals”.

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Vedanta to build R8.7bn Gamsberg zinc project – by David McKay ( – November 13, 2014)

[] – UK-listed mining group Vedanta Resources said it had approved an in principle investment of $782m (R8.7bn) in the Gamsberg zinc deposit in South Africa’s Northern Cape province with a view to producing first zinc during the group’s 2017/18 financial year.

In terms of the proposed investment, Vedanta will establish an open pit mine producing 250,000 tonnes/year of zinc and a refinery at the site of Skorpion, a mine first developed by Anglo American, producing 150,000 tonne/year of zinc concentrate. The Skorpion mine produced 13% less refined zinc, or 60,000 tonnes, in the first half of Vedanta’s financial year.

“The detailed feasibility study for the mining project was placed at the board meeting, while the work for setting up pilot plant for refinery conversion is underway,” said Vedanta today as part of its interim results presentation. “Preliminary work on financing options have also been commenced,” it said.

Vedanta has a positive view on the internationally traded zinc market saying in its interim results that it expected a supply deficit to remain in place until 2018. London Metal Exchange zinc prices averaged $2,196 per tonne compared to $1,850/t in the same period in 2013, it said.

The Gamsberg deposit and Skorpion mine were sold to Vedanta in 2010 as part of a package of zinc assets for about $1.3bn by Anglo American, then led by Cynthia Carroll who had embarked on a wave of non-core asset sales.

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Zinc bull Michelmore puts the case – by Lawrence Williams ( – October 24, 2014)

MMG CEO Andrew Michelmore is very bullish on zinc, in part resulting from the impending closure of his company’s Century mine next year with nothing of comparable size to replace it.

LONDON (MINEWEB) – At the tail end of a very interesting East meets West seminar put together by Bloomberg in London during LME Week, Andrew Michelmore, the CEO of MMG (the Australian-based subsidiary of China’s Minmetals), talked about his company and in particular about the massive Las Bambas copper property it is building in the Peruvian Andes.

But perhaps his most interesting comments came in a Q&A session at the end with his remarks on the global zinc market.

Michelmore is bullish on copper, but VERY bullish on zinc, and he is in a good position to understand the market as MMG is the operator of the massive Century zinc mine in Australia which is due to cease production next year. Century will produces some 400 000 tonnes of zinc this year, around 7% of global mined supply and is reckoned to be the world’s second largest zinc mine after Hindustan Zinc’s Rampura Agucha in Rajasthan, India.

Century is due to run out of open pittable ore by the end of the current year, but can probably continue processing material until Q3 2015. Beyond that production will cease said Michelmore in an answer to a direct question on the Century closure schedule.

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