MINEX Forum

Tag: zinc production

  • Belgian Initiative Aims to Recover Critical Minerals from Zinc Production Residues

    Belgian Initiative Aims to Recover Critical Minerals from Zinc Production Residues

    A new research initiative in Belgium is set to explore the recovery of critical minerals (CRMs) from industrial residues, particularly zinc production waste. The project, known as VLAIO O&O, is a collaborative effort involving Meclex (ZMI), the SOLVOMET Research and Technology Centre at KU Leuven, and the metal processing company Nyrstar. This innovative approach aims to develop a hydrometallurgical flowsheet that can effectively extract valuable by-products from zinc leach residues.

    As Europe faces increasing pressure to reduce its reliance on imported critical minerals, this project highlights the importance of innovation in metallurgical processing and resource recovery. By focusing on the recovery of CRMs from existing industrial waste, the initiative not only seeks to bolster Europe’s supply of these essential materials but also promotes strategic autonomy in resource management. The project underscores the potential of utilising resources already available within Europe, thus contributing to a more sustainable and self-sufficient industrial landscape.

    The collaboration between academic institutions and industry players exemplifies a proactive approach to addressing the challenges posed by the global demand for critical minerals. With the ongoing transition towards greener technologies and renewable energy, the need for a reliable and local supply of CRMs has never been more crucial. This Belgian-led initiative is a significant step towards achieving that goal, showcasing how innovative research can lead to practical solutions in the mining and metallurgical sectors.

    As the project progresses, it will be interesting to see the outcomes of the research and how it may influence future policies and practices regarding resource recovery in Europe. The focus on hydrometallurgical processes could pave the way for similar initiatives across the continent, further enhancing Europe’s capabilities in critical mineral production and sustainability efforts.

  • Two Killed and Five Injured in Explosion at Glencore’s Kazzinc Facility in Ust-Kamenogorsk

    Two Killed and Five Injured in Explosion at Glencore’s Kazzinc Facility in Ust-Kamenogorsk

    Two people have been killed and five others injured following an explosion and fire at Glencore’s Kazzinc zinc and gold production facility in Ust-Kamenogorsk, eastern Kazakhstan, on Tuesday.

    Preliminary findings indicate that the blast occurred during cleaning work on a smoke extractor unit, after which a fire broke out and part of the structure partially collapsed. Kazakhstan’s Emergency Situations Ministry confirmed that a dust-collection unit at the site had exploded, triggering the blaze. The fire has since been extinguished and rescue teams are searching the area for any further victims. No update was provided on the operational status of the facility.

    Kazzinc, 70% owned by Glencore with the remaining 30% held by Kazakh sovereign fund Samruk-Kazyna, is Kazakhstan’s largest producer of zinc and also produces lead, copper, gold and silver. The facility in Ust-Kamenogorsk is one of the country’s most significant metals processing complexes.

    The incident comes at a sensitive moment for the asset. Earlier this year Bloomberg reported that Glencore is closing in on a deal to sell its stake in Kazzinc to local businessman Shakhmurat Mutalip for as much as $4.5 billion — a transaction that, if completed, would represent one of the largest mining deals in Kazakhstan’s history.

  • Boliden Beats Earnings Forecasts Despite Garpenberg Seismic Damage as Zinc Mine Faces Extended Capacity Constraints Through 2027

    Boliden Beats Earnings Forecasts Despite Garpenberg Seismic Damage as Zinc Mine Faces Extended Capacity Constraints Through 2027

    Swedish mining group Boliden has reported first-quarter adjusted earnings well above analyst expectations despite a production halt and significant damage at its Garpenberg zinc mine caused by abnormal seismic activity in March — though the incident has left a lasting mark on the mine’s output capacity that will extend into 2027.

    The company’s quarterly operating profit, excluding a revaluation of process inventory, rose to 4.4 billion Swedish crowns ($475.7 million) from 2.6 billion crowns in the same period last year, beating an analyst consensus of 4.06 billion crowns. The strong result was supported in part by record high gold prices, which at times exceeded $5,000 per ounce during the January to March period, boosting by-product precious metals revenue from Boliden’s mining and smelting operations.

    Garpenberg, one of Boliden’s largest and most strategically important mines and a key source of zinc and silver concentrates, suffered a production halt following the seismic event. The company confirmed that production will resume in the second quarter but at a low pace, with milled volume guidance for the mine reduced to 1.5 million tonnes and zinc grade revised down to 2.7%. Silver grade guidance was nudged up to 100 grams per tonne from 95 grams per tonne. Looking further ahead, 2027 milled volume is now estimated at 2.3 million tonnes — below previous capacity levels.

    Despite the setback, Boliden said its plan to invest in a new hoist at Garpenberg remains in place, with an ambition to reach production of 4.5 million tonnes by 2032, though the company cautioned that this guidance remains preliminary given significant uncertainties. Overall investment plans for 2026 were reiterated without change.

  • Kazzinc Loses Tajik Raw Material Supply Contract Amid Customs Controls

    Kazzinc Loses Tajik Raw Material Supply Contract Amid Customs Controls

    Kazakhstan’s largest gold producer Kazzinc, in which Swiss commodities group Glencore holds a 70.2 percent stake, has reportedly lost a key raw material import contract from Tajikistan following stricter customs controls imposed by Kazakhstan’s State Revenue Committee.

    According to Kazakhstan’s Ministry of Industry and Construction report for 2025, the contract was affected by the application of the “red corridor” customs inspection regime on imported raw materials. Kazzinc relies on imported feedstock for roughly 40 percent of its production needs, and the lost contract involved approximately 40,000 tonnes of raw materials — representing about 20 percent of the company’s imports.

    The material had been supplied from Tajikistan by a company linked to Chinese mining group Zijin Mining. The loss of the contract highlights supply chain challenges facing Kazakhstan’s mining and metallurgical sector.

    Industry data in the report indicate that production of metallic ores, excluding iron ore, declined by 0.7 percent in 2025. The drop was partly attributed to operational changes at the Vasilkovskoye deposit in Akmola region, the country’s largest gold mine operated by Kazzinc, which is transitioning from open-pit to underground mining.

    Resource depletion at several zinc and lead deposits in East Kazakhstan — including the Maleevsky, Tishinsky and Dolinny mines — has also contributed to declining output. As a result, forecasts for 2026 suggest growth in most major metals such as steel, pig iron, rolled products and copper, while production of refined gold and metallic zinc is expected to fall.

    Gold output is projected to decline from 29.45 tonnes to 21.27 tonnes due to depletion at the Vasilkovskoye mine. Zinc production is also expected to drop from 259,600 tonnes to 239,000 tonnes because of declining ore grades and uncertainty surrounding planned zinc concentrate supplies from Russia.

    Overall, production in 2025 declined across several refined metals. Output of metallic zinc fell by 6.6 percent, refined silver by 10.4 percent, refined gold by 1.1 percent and refined lead by 29.6 percent.

    These developments come as Glencore reportedly considers selling its majority stake in Kazzinc as part of a broader portfolio restructuring. Market analysts estimate the value of the asset at around $5 billion.

    Media reports have suggested that Kazakh businessman Shakhmurat Mutalip is in discussions to acquire the stake for approximately $4–4.5 billion. In early 2026, Mutalip registered two new mining companies at the Astana International Financial Centre — KazZinc Group Ltd. and Central Asia Resources Holding Ltd. — both focused on copper, lead and zinc mining and processing.

  • Boliden Inaugurates Expanded Odda Zinc Smelter, Boosting Production and Sustainability

    Boliden Inaugurates Expanded Odda Zinc Smelter, Boosting Production and Sustainability

    A century after zinc production began in Odda, Norway, European metals company Boliden has officially inaugurated the expanded Odda zinc smelter, marking a significant milestone for the facility. The expansion increases the plant’s annual zinc production capacity from 200,000 tonnes to 350,000 tonnes, solidifying its position as Europe’s second-largest and the world’s most productive zinc smelter. Notably, the facility can now produce 1,000 tonnes of cast zinc per full-time employee annually.

    The project involved extensive infrastructure upgrades, including the installation of a new roasting furnace, a sulfuric acid plant, and a modernized cellhouse. Additionally, the leaching and cleaning plant and the foundry were expanded and updated to enhance production efficiency.

    Boliden President and CEO Mikael Staffas described the expansion as a historic achievement, emphasizing its role in producing the world’s most climate-efficient zinc. “This zinc will primarily be used for rust protection in various European applications, contributing to a responsible climate transition. It’s also a flagship for Norwegian industry, ensuring pride for another 100 years,” he stated.

    Zinc, the fourth most widely used metal globally, is critical for protecting steel structures from corrosion. It is heavily utilized in the construction, automotive, and energy sectors, particularly in wind turbines exposed to harsh environments. Additionally, zinc plays a vital role in agriculture, addressing zinc-deficient soils to boost global food production.

  • Boliden Acquires Lundin Mining Assets for $1.3 Billion in Strategic Expansion

    Boliden Acquires Lundin Mining Assets for $1.3 Billion in Strategic Expansion

    Swedish mining giant Boliden is set to acquire the Neves-Corvo mine in Portugal and the Zinkgruvan mine in Sweden from Lundin Mining in a deal valued at $1.3 billion upfront, with potential contingent payments of up to $150 million.

    This acquisition is expected to nearly double Boliden’s zinc concentrate output and increase its copper concentrate production by 43%, significantly bolstering its resource portfolio. The move aligns with Boliden’s strategic goal to enhance its smelting capacity and secure a stable supply of mined ores amidst intensifying global competition.

    According to Boliden CEO Mikael Staffas, the deal represents both “industrial logic and strategic fit,” with the acquired mines projected to contribute between $300 million and $350 million annually in earnings over the next five years. Boliden plans to finance the upfront payment through a bridge loan, half of which will be refinanced via a share issue and the remainder through medium- and long-term debt instruments.

    For Lundin Mining, the sale reflects a pivot in focus toward South America. Earlier this year, the company announced a joint venture with BHP to acquire Filo Corp, which owns the Filo del Sol project in Chile. This deposit boasts estimated resources of 2.2 billion pounds of copper, 2.86 million ounces of gold, and 133.33 million ounces of silver. The joint venture also acquired the Josemaría copper-gold-silver project in Argentina.

    The Neves-Corvo mine, located in Portugal’s Iberian Pyrite Belt, produced 108,812 tonnes of zinc, 33,823 tonnes of copper, 6,500 tonnes of lead, and 1.9 million ounces of silver in 2023. Meanwhile, the Zinkgruvan mine in Sweden yielded 76,349 tonnes of zinc, 4,434 tonnes of copper, 26,284 tonnes of lead, and 2.3 million ounces of silver last year.

    The transaction, which is subject to regulatory approvals, is expected to be finalized by mid-2025.

  • Boliden AB Nears Deal to Acquire Lundin Mining’s European Mines

    Boliden AB Nears Deal to Acquire Lundin Mining’s European Mines

    Swedish mining giant Boliden AB is reportedly in advanced discussions to acquire Lundin Mining Corp.’s two European mining operations, according to sources familiar with the matter. The assets under negotiation include the Zinkgruvan mine in Sweden and the Neves-Corvo mine in Portugal.

    Lundin’s shares rose 3.7% on Thursday on the Toronto Stock Exchange as of 3 PM, reflecting market optimism about the potential deal. If finalized, the acquisition would bolster Boliden’s standing as one of Europe’s leading zinc producers, ensuring a steady supply of raw materials for its expanding smelting operations in Scandinavia.

    Lundin Mining, a Canadian firm, decided to put the two mines up for sale earlier this year to focus on developing copper projects in South America. These mines, among Lundin’s oldest assets, accounted for about 20% of its revenue last year. Lundin has been aggressively pursuing opportunities in Latin America, teaming up with BHP Group Ltd. in July to acquire Filo Corp., a company owning a major copper project along the Argentina-Chile border.

    Meanwhile, Boliden is working to increase production capacity at its Odda smelter in Norway by 75%, aiming for 350,000 tons annually. The company is also resuming operations at the Tara mine, Europe’s largest zinc mine, which had been temporarily shut down due to high operational costs.

    The Zinkgruvan mine, operational since 1857, produced 76,349 tons of zinc in 2022, while Neves-Corvo contributed 108,812 tons of zinc and 33,823 tons of copper. Both mines represent significant additions to Boliden’s portfolio.

    Spokespeople for Boliden and Lundin declined to comment, and sources cautioned that negotiations are ongoing, with no guarantee of a final agreement.

  • Glencore Considers Selling Stake in Kazakh Mining Company Kazzinc

    Glencore Considers Selling Stake in Kazakh Mining Company Kazzinc

    Glencore is considering selling its stake in the Kazakh mining company Kazzinc amid interest from potential buyers in China, according to sources familiar with the matter. The deal could value Glencore’s nearly 70% holding in Kazzinc at several billion dollars, the sources said, requesting anonymity due to the private nature of the discussions.

    Glencore is also in the process of selling the Kazzinc-operated Vasilkovskoye gold mine, having scrapped a previous sale over seven years ago. The gold mine and Kazzinc’s core zinc operations could be sold to separate buyers or a single party, depending on the offers received. However, the deliberations are preliminary and may not lead to a transaction. A representative for Glencore declined to comment.

    Kazzinc is composed of an extensive network of mines, concentrators, and metal finishing plants across Kazakhstan, enabling the company to process ore and produce finished zinc metal and products. The company was established in 1997 through the merger of three main non-ferrous metals companies in eastern Kazakhstan, which were mostly government-owned.

    Glencore CEO Gary Nagle has continued his predecessor’s strategy of simplifying the business by selling off smaller or more challenging assets. The company has already sold zinc assets in Peru and some of its smaller copper operations. Zinc prices have rallied this year due to supply constraints, but the long-term outlook remains uncertain because of the metal’s heavy exposure to the struggling construction sector and its limited uses in fast-growing industries like renewable energy and electric vehicles.

    Prices were 1.6% lower at $2,888.00 on Wednesday on the London Metal Exchange, reducing zinc’s yearly gain to 8.6%. Kazzinc’s zinc production rose by 27,500 tons in 2023 to 173,900 tons, while lead production totaled 35,600 tons, copper was 14,800 tons, and gold reached 598,000 ounces, according to Glencore’s annual report.