Xstrata PLC’s Zinc division Friday has announced its plans to up ore production by a further 33% to 1.6 million tonnes per annum at its high-grade Lady Loretta mine in north-west Queensland, Australia.
Highlights from market news:
- Latest 59.2 million Australian dollar project raises the total investment to date to 362.2 million Australian dollars (356.4 million dollars)
- Expansion will allow the earlier recovery of resources from several of Lady Loretta’s upper ore bodies and will increase the number of stopping levels available in the underground mine in future
Investing in zinc? Zazu Metals Corporation (TSXV:ZAZ) holds a 50% interest in the Lik Project in Alaska, a joint venture with Teck Resources Limited. The PEA on Lik South estimates that 17.1Mt tonnes of ore milled at an average grade of 7.7% zinc, 2.6% lead and 47 g/t silver would come from the Lik South project.
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