Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : ZINC The base metal. News and Views. Symbol Zn -- Ignore unavailable to you. Want to Upgrade?

To: lorne who wrote (26)	2/3/1999 12:05:00 PM
From: Claude Cormier	Respond to of 3270

The JSC KazZinc plans to increase the volume at its Maleevsky mine from 550,000 tonnes to 1.5 million tonnes annually by November 1999, reported Interfax-Kazakhstan. The Maleevskoe deposit is one of the five largest zinc deposits in the world and although the area around the deposit has been extensively exploited for lead and zinc this deposit was not discovered until the 1980's. Government studies report reserves of 40 mt at 1.2% lead, 7.8% zinc and 2.6% copper. Initial construction of the mine was started in the 1980s and although design capacity was 1 mt per year this was never achieved. The mine's reconstruction is scheduled to be completed in 2001. US$ 65 million will be invested in the Maleevsky mine over a period of five years. Swiss company Glencore, which owns 62.4 percent of KazZinc, will provide the financing. This development will provide feed for the Zyrianovsk processing plant which is undergoing a US$17 million upgrade to increase capacity from 1.2 million tonnes per year to 2-2.5 million tonnes. 40% of the new equipment will be sourced within Kazakhstan.