Output cuts and layoffs hit zinc and lead miners

Zinc Investing News reports zinc prices have had big hits with layoffs and output cuts.

Acadian Mining Corp. of Halifax reported a net loss of $158,729 on revenues of $8.6 million for its third quarter. The Company said that its third-quarter performance was an improvement over the second quarter, when it lost $5.7 million on revenues of $3.6 million, but decreasing zinc and lead prices are hurting the company’s bottom line. Acadian reported last month that plummeting base metal prices might force it to shut down the province’s only lead-zinc mine in Gays River, near Shubenacadie.

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