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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (111409)	3/20/2015 7:09:09 PM
From: LoneClone	Read Replies (1) \| Respond to of 194913

Zinc treatment charges settled 10% higher – report 18th March 2015 By: Reuters miningweekly.com LONDON – Zinc treatment charges have been settled 10% higher at $245/t of concentrate between Canada's Teck Resources and commodities group Glencore due to a well-supplied market, Metal Bulletin reported. The deal, based on a zinc price of $2 000/t, marked an increase from $223/t last year, the publication reported this week, citing unidentified industry sources. Treatment charges are paid to smelters, in this case Glencore, by mining companies to have their concentrates turned into refined metal. They increase when supplies rise as mining groups compete to find smelters to process their material. Other details of the settlement include a 9.5% escalator to a zinc price of $2 500, with a 7.5% escalator above $2 500 and a de-escalator of 3.5% below $2 000, the publication added. Glencore decline to comment on the report. "There's no shortage of zinc concentrate at least for 2015 and the zinc price may not be as strong during 2015 as expected by certain market participants," Citi analyst Jatinder Goel said in a note about the treatment charges.