MMG’s Century Zinc Mine to Close in Q3 2015

Reuters reported that according to MMG Ltd. (HKEX:1208), the Century zinc mine will stop producing as scheduled in 2015. That’s in contrast to forecasts that the Australia-based mine’s life could be extended.

As quoted in the market news:

Investors bullish on the outlook for zinc prices expect shortages to develop, due to the closure of several major zinc mines including Century. Others, though, have held out the prospect that output could continue.

The timing of the Century mine’s closure has been a topic in discussions during LME Week in London, the biggest global gathering of the industrial metals sector.

‘The latter part of the middle of next year — it’ll be in the third quarter — that mine runs out… That’s it,’ said Andrew Michelmore, chief executive of MMG, majority-owned by China Minmetals.

Click here to read the full Reuters report.