Kagara, that lost 89 % of its value in 2008r, will cut zinc production following a review of its operations that was sparked by a slump in prices. The company said: Management does not believe that these low metal prices can be sustained in the longer term. The majority of mines worldwide are cash-flow negative and a [...]
Read the full article: "Kagara to cut production on low prices"
Friday, October 31, 2008
Zinc closed at $0.5697 per pound today, up 2.00 cents. For full story, click here
Read the full article: "Zinc closed at $0.5697 per pound"
Thursday, October 30, 2008
Chelyabinsk Zinc Plant, will slash its planned production for next year to 150,000 tonnes due to the global financial turmoil. Sergei Moiseyev, chairman of Chelyabinsk Zinc Plant, said: Tight credit has resulted in a slowdown in zinc consumption in Russia and abroad. These factors, combined with the steep decline in the price of zinc on the London Metal [...]
Read the full article: "Russia’s Chelyabinsk zinc to reduce..."
Thursday, October 30, 2008
The London Metal exchange inventories showed a significnt rise on Thursday, which dragged several other metals including Zinc. A LME Trader, said: The U.S. rate cut yesterday caused a short-term bubble but markets soon came back to the recent trend with prices trading lower For full story, click here
Read the full article: "Zinc drags on LME"
Wednesday, October 29, 2008
Zinc prices bounced 4.6 percent to track global equity markets higher and ahead of a U.S. interest rate decision later in the day. For full story, click here
Read the full article: "LME zinc bounces to track equities"
Wednesday, October 29, 2008
Reducing prices of zinc has forced Breakwater Resources Ltd. to suspend operations at its Langlois mine in Quebec and the Myra Falls mine in British Columbia. Ann Wilkinson, ccompany spokeswoman, said: We haven’t yet settled on the final number of workers needed for the care and maintenance of the mines. The closures will enable it [...]
Read the full article: "Breakwater to suspend Operation At Two Mines"
Monday, October 27, 2008
Declining base-metal prices are vompelling a Nova Scotia mining company to stop the operations if the province’s only lead-zinc mine near Shubenacadie. Terry Coughlan, Acadian Mining vice-president, said: If prices get to the point where we can’t make money, we may have to shut it down.In the past three to four weeks prices dropped by at least [...]
Read the full article: "Acadian likely to halt lead-zinc mining"
Monday, October 27, 2008
Zinc prices fell 6.4% to an intra-day low of $1,090/t before trimming losses at $1,1160/t, down $5. For full story, click here
Read the full article: "zinc declined 6.4%"
Friday, October 24, 2008
By Leia Michele Toovey- Exclusive to Zinc Investing News Lead and zinc were on par with this week’s bearish market sentiment. Growing evidence that the financial crisis was spreading throughout the globe hit the metals hard; most influential this week was news that pointed directly too a gloomy economic future for metals consuming giant China. [...]
Read the full article: "Low metal prices put lead and zinc firms..."
Friday, October 24, 2008
The Memorandum of Understanding aims to establish a mutually beneficial terms for exploring and developing the Prairie Creek Mine and to demonstrate that LKFN and Canadian Zinc intend to work together, as responsible companies. John F. Kearney, Chairman of Canadian Zinc Corporation, said: Canadian Zinc is extremely pleased to be signing the Memorandum of Understanding with the Liidlii [...]
Read the full article: "Canadian Zinc Corp signs MOU With Liidlii..."
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Friday, October 31, 2008