From Bloomberg.We wait to see if that pipeline is rotten elsewhere.If it is watch out.
Nov. 18 (Bloomberg) -- China Minmetals Corp., the nation’s largest metals trader, has exhausted stockpiles and halted shipments of concentrate from its zinc mine in Australia pending repairs to a damaged pipeline.
“We’ve now completed shipping of all the zinc concentrate stocks that were stored,” Sally Cox, a spokeswoman for Minmetals’ Melbourne-based unit MMG, said today by phone. The Century mine in northern Australia is the world’s second-largest open-pit zinc mine.
Customers including Nyrstar NV, the world’s largest smelter of zinc, “will be sourcing alternative concentrate for the interim period, but we obviously expect to recommence shipping concentrate to those customers again,” she said. Concentrate production at Century in Queensland state has been suspended since the pipeline ruptured on Oct. 5 when there was 70,000 tons of concentrate stockpiled at the port.
“We’ve been in ongoing contact with the customers since this happened,” Cox said, declining to comment on whether the company had declared force majeure on shipments. “We are confident they will want to take up the stock again once we are able to supply it.”
A bypass pipeline is likely to be connected to the main pipeline by the end of this week and will be tested with water before restarting concentrate production, Cox said.
The mine produced 158,603 tons of zinc concentrate in the September quarter, MMG said Oct. 26. Force majeure is a legal clause that allows a company to miss deliveries because of circumstances beyond its control.
To contact the reporter on this story: Jesse Riseborough in Perth at
- Forums
- ASX - By Stock
- share price
From Bloomberg.We wait to see if that pipeline is rotten...
-
- There are more pages in this discussion • 9 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 TZN (ASX) to my watchlist
|
|||||
Last
4.1¢ |
Change
-0.001(2.38%) |
Mkt cap ! $86.77M |
Open | High | Low | Value | Volume |
4.1¢ | 4.1¢ | 4.1¢ | $2.25K | 54.87K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 145129 | 4.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.2¢ | 366217 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 145144 | 0.041 |
1 | 158313 | 0.040 |
1 | 78967 | 0.039 |
1 | 76300 | 0.038 |
1 | 200000 | 0.037 |
Price($) | Vol. | No. |
---|---|---|
0.042 | 366217 | 3 |
0.043 | 550000 | 1 |
0.044 | 150000 | 1 |
0.045 | 34061 | 2 |
0.048 | 100000 | 1 |
Last trade - 13.21pm 15/08/2024 (20 minute delay) ? |
Featured News
TZN (ASX) Chart |
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO & Managing Director
Charles Armstrong
CEO & Managing Director
SPONSORED BY The Market Online