- Write by:
-
Friday, November 26, 2021 - 12:22:32
-
836 Visit
-
Print
Mining News Pro - Swedish miner Boliden (STO: BOL) said on Wednesday it had halted production at its Tara mine in Ireland, Europe’s largest zinc mine, due to increased water flows into the operation.
Water began flooding the underground mine as a crew was drilling a pilot raisbore hole for a ventilation shaft.
Inflow volumes are exceeding the capacity of the dewatering infrastructure, the company said, adding it was unclear for how long production will be stopped.
In 2020, the Tara mine produced 127,000 tonnes of zinc concentrate and 14,000 tonnes of lead concentrate.
The news boosted zinc prices 2.2% to 3,420 a tonne on the London Metal Exchange. On Tuesday, the metal had recorded the biggest gain in a month as Glencore (LON: GLEN) announced it was preparing to shut down production in Italy.
Zinc production had already been hit by supply cuts announced by Trafigura, Nyrstar and Glencore, which sent prices up 13% in October.
Global zinc production is estimated at about 14 million tonnes this year, with about half of that expected to come from China, the world’s largest producer.
The metal is mainly used to galvanize steel or iron by applying a zinc coating to stop rusting. Galvanized steel is used in buildings, cars and electronics.
Short Link:
https://www.miningnews.ir/En/News/617145
Peru’s dented mining mojo, hit by years of political turmoil in the Andean country, is being buoyed by strong copper ...
Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time ...
As BHP Group considers its next move, there’s one big question facing the mining world’s bankers, analysts and ...
Around $7 billion of infrastructure investments in the Democratic Republic of Congo by Chinese companies in a revised ...
Harmony Gold said on Thursday an employee working on planned rail maintenance had died at its Mponeng mine in South ...
Albemarle, the world’s largest producer of lithium for electric vehicle batteries, could look at reducing capital ...
Belgium’s Nyrstar is reactivating the Budel zinc smelter in the Netherlands after a four-month period of care and ...
Coal India Ltd., the world’s largest producer of the commodity, reported a 26% increase in fourth-quarter profit, driven ...
Adani Enterprises Ltd., which posted a 38% fall in quarterly profit, said India’s markets regulator has queried it about ...
No comments have been posted yet ...