Canadian Miners Tune Into Zinc

- November 8th, 2009

  Plummeting zinc prices in the fourth quarter last year that lasted into the first quarter this year forced many zinc mines to shut down because they were no longer profitable. Several Canadian miners are now changing their stance. HudBay had closed the mine earlier this year because of weak zinc prices. With the price … Continued

 

Plummeting zinc prices in the fourth quarter last year that lasted into the first quarter this year forced many zinc mines to shut down because they were no longer profitable. Several Canadian miners are now changing their stance.

HudBay had closed the mine earlier this year because of weak zinc prices. With the price of zinc at about $1 per pound, HudBay believes it is profitable to reopen the mine.

Higher gold prices helped HudBay Minerals Inc’s net income to soar to nearly C$ 20 million in the third quarter from C$ 2.8 million in the same period last year despite a 21.3-per cent decline in revenue to C$ 194.6 million from C$ 247.4 million.

Also looking up is the local unit of Canadian miner TVI Pacific Inc, which is to commence construction of a zinc processing facility at its copper mine in the province of Zamboanga del Norte.

Read the rest of this article on Zinc Investing News.

Follow developments in resource mining and exploration for free.

Sign on to The Resource Stock Watch.

 

Get the latest Resource Investing stock information

Get the latest information about companies associated with Resource Investing Delivered directly to your inbox.

Resource Investing

Select None
Select All

Tags

Leave a Reply