I just want to correct my comment on Zinc not being in surplus. Export earnings in real terms are projected to ease by 2011-12, therefore Zinc prices will come down gradually. Believe AIM will still reap the rewards if they move to full production either end of 2008/or beginning of 2009 & keep their costs down. They are 7 months behind their estimated delivery date, which isn't bad considering the magnitude of the project, and development in a country the size of Africa, with political & sovereign risk much greater than Australia.
Whether zinc will be in deficit or surplus next yr, will depend on projects like below, moving in to production and demand from China & India.
> Xstrata’s Lady Loretta (125 000 tonnes) in Queensland.
> Teck Cominco’s Lennard Shelf (70 000 tonnes)
> JabiruMetals’ Jaguar (38 000 tonnes)
> Terramin’s Angas (31 000 tonnes)
Perilya’s Flinders (36 000 tonnes) project
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