Meridian Minerals (ASX: MII) has announced that 14 diamond drill holes drilled at the Kapok West prospect, on the Lennard Shelf Project in Western Australia has landed the company into a high grade lead and zinc mineralization.
Meridian’s Managing Director, Jeremy Read is quoted saying:
“Today we have announced our highest ever grade intersection, of 30.5% lead+zinc, [...]
UK-based Griffin Mining reported that it has scrapped its plans to take over Canadian group Ivernia for $C27m and acquire its Magellan lead mining operation in Western Australia.
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Terramin Australia Ltd reported that it has commenced financing for a proposed zinc and lead mine in Algeria, securing $32 million from investors in China and Europe.
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Ivernia Inc., sole owner and operator of the Magellan lead mine in Western Australia, reported that it is aware of the press release issued on March 24, 2009 by Griffin Mining Limited indicating it proposes to make an unsolicited take-over bid for all of the shares of Ivernia.
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Xstrata Ltd said on Wedenesday mining and transport operations were being disrupted by heavy rains in Australia’s Queensland state.
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By Leia Michele Toovey- Exclusive to Lead Investing News
The global financial crisis and sharp falls in metals prices have forced several companies to abandon or put on hold their plans to bring new mines on-stream.
Some existing producers have also shut down or curtailed output at mines and plants as high costs and low prices bite. Zinc [...]
By Leia Michele Toovey- Exclusive to Lead Investing News
For the first quarter of 2009, the mantra of many lead and zinc miners is “survival”.
After the price crash of 2008, many miners have gone underwater. This is forcing cutbacks, closures, acquisitions, and even some bankruptcies. There is no question that prices will rebound as commodity cycles are [...]
By Leia Michele Toovey- Exclusive to Zinc Investing News
The global economic outlook seems to worsen everyday.
The US, China, and India are witnessing an economic slowdown. Data coming out of Japan shows that the economy there has entered into a recession in the third quarter as corporate spending and export demand slumped. The 15 countries that [...]
By Heather Matthews – Exclusive to Lead Investing News
Current market climate
Over the past nine months, zinc and lead spot prices have declined 26 per cent as a result of a long-term market surplus that has negated demand for the base metals worldwide.
The impact of this surplus is manifesting itself in myriad forms – mine [...]
Canadian Teck Cominco Ltd. will be closing their Lennard Shelf zinc and lead mine in Australia due to the drop in zinc prices. In 2007 the mine produced 42,100 tonnes of zinc and 12,400 tonnes of lead. The International Lead and Zinc Study Group showed a surplus of 41,000-tonnes of lead for the first half [...]
Tuesday, May 25, 2010