The zinc market, which has been in deficit for the past two years, will become tighter as mines close and current stocks are consumed, Teck president and CEO Don Lindsay said.
LME zinc stocks have declined by 600,000t so far this year, adding to the impact of a "long list" of mine closures since 2013 and the planned shutdown of MMG's Century mine in Australia in the third quarter, Lindsay said.
"That will have a significant effect on the tightness of the market," Lindsay said at a BMO mining conference in Hollywood, Florida. "As we go forward into 2016 and 2017, we believe there will be a significant deficit."
IRL will be in the right place at the right time with Aravalli, IRL shareholders just need to be patient.
No news on the Surda restart could be a good sign, the longer this drags out, the more pressure that will be put on HCL to get the mine restarted quickly once the approval is given. More than 1000 people are out of work and this will be putting pressure on HCL to resolve the problems with payments to IRL.
Otherwise, NO MONEY, NO WORK.
Its time IRL management put their foot down and say ENOUGH is ENOUGH. We want our money.
IRL Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
