new indonesian zinc mine still held up...

This is the type of situation referred to by the head guy at ZFX and others in reply to those who say there will be a surplus of zinc of 250,000 tonnes in 2008.
The figures are always worked out on the supply coming on board on time...which it rarely does.
Here is a mine of 125,000tpa that was probably factored in to coming online in early 2008 and at this stage looks highly unlikely.
Lead was under the same sort of pressure around a year ago now.
it will be interesting to see what happens with zinc.
cheers andrewe



New Indonesian zinc mine still held up by permitting

Metals Insider - 2007-11-01



The wave of new and re-started zinc mine capacity is hitting the zinc concentrates market but one project that remains stalled is Herald Resources’ Dairi mine in Indonesia.



The project has been held up for want of a key forestry permit and Herald in its latest quarterly update said it now seems this is “dependent on a presidential decree being issued allowing underground mining in forest areas generally”.



A meeting on Oct 30 between all the interested parties resulted in a request for “slightly more detail” in relation to certain areas of the proposed mine site. Herald said it will immediately undertake an additional report to meet this request.



“As the Company has never formally received any reason from the Forestry Dept why its application should not be approved, the Company continues to believe that approval will be forthcoming once the Presidential decree is signed, although the timing of this is obviously beyond the Company’s control.”



Dairi, which should be capable of producing around 125,000tpy contained zinc, was originally scheduled to start production by the end of this year. It has yet to start full construction in the core mining area.