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Korea Zinc has agreed annual supply contracts for lead concentrate from South32’s Cannington mine in Australia with a 25.5% reduction in treatment charge (TC) terms from a year ago.
The two companies agreed to a TC of $136 per tonne and refining charge (RC) of $1.50 per oz, down from $182.50 per tonne / $1.50 per oz, sources claiming direct knowledge said. The deal was locked as per contract with no changes to volumes, they added.
South32 declined to comment and Korea Zinc did not respond to a request for comment.
Annual terms in contracts for Cannington have in recent years been taken as a benchmark for other lead concentrate with high silver content, such as from Sumitomo s San Cristobal mine in Bolivia.
our data and market news is now available through the Fastmarkets platform
and a trial of this website is no longer available.
Our new delivery solution allows you to access the prices
and news that matters most to you in a way that delivers
value, quality and a unique, fully customizable view for you.
We are working hard to develop an experience that allows you to test drive
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The first shipment of iron ore to leave Angola since 1976 left the Cutato mine in Cuando Cubango province by rail on April 10-11, according to Jamie van Reijendam, general manager of global trade at London trading house Ronly.
The 60,000-tonne shipment of 60-62% Fe Cutato lump is due to be exported from the southern port of Namibe in May, he said.
Ronly has been involved with the Companhia Siderúrgica do Cuchi (CSC) project in the southern African country as financier since 2019
and has exclusive offtake rights.
CSC’ majority shareholder, Brazil s Modulax Indústria e Comércio (Modulax), has been developing the project since 2015 and started operations at the Cutato mine at the start of 2021.
The first shipment of iron ore to leave Angola since 1976 left the Cutato mine in Cuando Cubango province by rail on April 10-11, according to Jamie van Reijendam, general manager of global trade at London trading house Ronly.
The 60,000-tonne shipment of 60-62% Fe Cutato lump is due to be exported from the southern port of Namibe in May, he said.
Ronly has been involved with the Companhia Siderúrgica do Cuchi (CSC) project in the southern African country as financier since 2019
and has exclusive offtake rights.
CSC’ majority shareholder, Brazil s Modulax Indústria e Comércio (Modulax), has been developing the project since 2015 and started operations at the Cutato mine at the start of 2021.