Following on from MAB73's post
South32 says investors blind to coming zinc boomPeter KerResources reporterUpdated Jan 17, 2022 – 7.18pm,first published at 6.07pmSouth32 believes investors do not fully appreciate how attractive zinc prices will be in a carbon-constrained future, as it seeks to calm market concerns about rising costs on a $US1.7 billion ($2.35 billion) mine project in the US state of Arizona.
South32 wants to join BHP and Rio Tinto in Arizona to mine for the metals that will help build clean energy infrastructure, but will need the support of US President Joe Biden before its project can interfere with federal lands.
The land needed by South32 for its zinc, silver and lead mine named Taylor is smaller and less contentious than BHP and Rio’s Resolution Copper project. On Monday, South32 revealed Taylor would cost more to build than the previous owner expected in 2018.
Once built, South32 said operating costs at Taylor would also be about 60 per cent higher than previously expected, prompting Barrenjoey analyst Glyn Lawcock to question whether the mine would be viable.
But South32 chief executive Graham Kerr said zinc prices would likely prove more attractive than most investors expected, and that would help underpin the viability of the Taylor mine.
“Zinc and silver are far more attractive in a world that needs ‘green’ metals, particularly if you believe in the 1.5 degree [global temperature rise] scenario where demand for those will significantly increase,” he said.
- Forums
- ASX - By Stock
- IBG
- Ann: Citronen Receives Landmark 402A Designation from EXIM Bank
Ann: Citronen Receives Landmark 402A Designation from EXIM Bank, page-260
-
- There are more pages in this discussion • 93 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add IBG (ASX) to my watchlist
(20min delay)
|
|||||
Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $5.500M |
Open | High | Low | Value | Volume |
0.3¢ | 0.3¢ | 0.3¢ | $74 | 24.60K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
14 | 23758496 | 0.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.4¢ | 21480000 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
14 | 23758496 | 0.003 |
27 | 28984641 | 0.002 |
9 | 11399988 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.004 | 21480000 | 5 |
0.005 | 10933505 | 9 |
0.006 | 2450330 | 5 |
0.007 | 925300 | 5 |
0.008 | 856448 | 5 |
Last trade - 10.04am 17/09/2024 (20 minute delay) ? |
Featured News
IBG (ASX) Chart |