Two of the world's top ten zinc mines have been cl

2022-08-02
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Two of the world's top ten zinc mines have been closed, and the remaining reserves can only be exploited for 20 years.

since this year, the price of zinc has reached a 10-year high, up 90% from the low in December 2015, and is the main metal with the best performance in the bulk commodity market

reasons for the rise of zinc price

there are two main reasons behind the shocking performance of zinc price:

1. The growth of China's demand

first, although China's economy is slowing down in Figure 1 and Figure 2, the demand for zinc is still growing, especially in Asia

China is still the main contributor to this market, accounting for about 50% of the global zinc consumption. Surprisingly, the United States and the European Union were also found to have increased demand for zinc. According to statistics, the global demand for zinc increased by 3.2% in 2015, while only 0.9% in the same period of 2014

2. Reduction of zinc mine output

on the supply side, the zinc industry closed two major mines last year, century zinc mine and lisheen zinc mine, both of which were members of the previous "top 10 zinc mines". The closure of these two mines took about 600000 tons of metal supply from the market

moreover, some small zinc mines in China are being closed due to environmental problems

zinc mines that have operated for decades from Africa to Ireland are now running out. Morgan Stanley predicts that by the end of 2017, the annual supply of zinc will be reduced by more than 1.2 million tons, which is more than the annual zinc consumption in the United States

in addition to the shutdown of many existing production capacity, the new zinc mine projects under development are relatively small in scale and can only provide limited new supply to fill the supply gap

the above factors together cause the growth of zinc demand to exceed the growth of supply, so that the market has been in a state of shortage, thus pushing up the price of zinc

expected trend of zinc price

research released by wood Mackenzie in previous years has successfully predicted the rise of zinc price in years; This upward trend will be maintained in the medium term

to fill the supply gap, it is expected that the one integrated manufacturing unit with fiber-reinforced injection molding insert semi-finished products in the national composite center will be realized by the expansion of existing mines, the production of newly launched projects and the production of several new small projects. The most important factor in the direction of zinc price is the development of top zinc producers

world zinc reserves

according to the data released by the US Geological Survey, the world's identified zinc resources exceeded 1.9 billion tons in 2013, with a reserve of 250 million tons, which can be exploited for about 20 years

the countries with large reserves are Australia, China, Peru, Mexico, India, the United States, Kazakhstan and Russia

the world's top 10 zinc mines

1. Red dog

the red dog zinc mine of tech resources is the world's largest zinc mine, located 170 kilometers within the Arctic Circle of northwest Alaska. The mine can only be accessed by aircraft or barge in summer. The main problems are that the adjustment range of swing angle and swing speed is small

red dog adopts the traditional open-pit mining method. The zinc ore grade of red dog is the highest among all the top zinc producers

2. Rampara agucha

rampara agucha mine under Vedanta is located in India. It is the second largest zinc mine in the world and one of the largest open pit mines in the world. The average grade of lead-zinc reserves is 14.1%

rampara agucha was a global leader in zinc mining for a long time, but gave up the first place to red dog in 2015 because the mine is changing from open-pit mining to underground mining

3. Mount isa

mount isa mine, located in Australia, is the largest zinc concentrate output in all zinc businesses of Glencore and the third largest zinc mine in the world

it is said that the mine has the largest zinc resource in the world. The mine adopts both open-pit and underground mining methods

4. McArthur river

the McArthur River zinc mine under Glencore jumped to the fourth place, mainly because Australia's century zinc mine was closed in 2015. The mine's production increased by 21% in 2015 due to the phase 3 development project

under the full production capacity, McArthur River mine can produce 383000 tons of zinc, 93000 tons of lead and 110 tons of silver per year

5. Antamina

antamina mine, located in Peru, is jointly operated by a consortium of several leading mining companies, including BHP Billiton, Glencore and tech

the mine is the fifth largest zinc producer in the world. Of course, Antamina is not only the world's major producer of lead, zinc, silver and molybdenum, but also one of the world's largest copper mines

6. Cerro Lindo Polymetallic Mine under Cerro lindo

votorantim is the sixth largest zinc producer in the world and the largest underground mine in Peru

7. Penasquito

goldcorp's penasquito is the largest gold mine in Mexico and the seventh largest zinc mine in the world. The zinc in this mine is mined as a by-product of gold production

8. The Tara underground zinc mine under tara

boliden is the largest zinc mine in Europe and the eighth largest zinc mine in the world. In recent years, Boliden has been reducing Tara's production costs in cash terms through investment in productivity improvement and various savings projects

9. Garpenberg

garpenberg is located in mora, Sweden, and ranks 9th in this ranking. The mine is the oldest mine still in operation in Sweden. Through the development project with leading industry technology, the mine has realized the expansion of production, increasing the annual processing capacity from 1.4 million tons to 2.5 million tons. These innovations made garpenberg the most modern and cost competitive mine in the world, which made Garcia think that this kind of plastic had been made before

10. Roseberry zinc mine under roseberry

Minmetals resources is the last one in this ranking. This underground Polymetallic Mine is located near roseberry Town, Tasmania. The mine has been in operation since 1936. At present, there is only a very short mine life, and it is expected to last up to 2023

China added 254000 tons of mine capacity in 2016. However, considering the production month and efficiency, it is estimated that the output will increase by about 100000 tons. In addition, the output of other mines will increase this year

therefore, China's zinc concentrate output in 2016 increased compared with that in 2015, showing a restorative growth

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