Tamerlane Company to Raise $ 0.1 billion for Pine Point Lead&Zinc Mine, "Zinc Recourse Crisis" Prediction

(SMM)--Tamerlane company announced at the Forth London Financial Conference of International Mining industry on sep. 23 that they would manage to raise investment funds of $ 0.1 billion for Pine Point lead zinc mine, which is located in the northwest of Canada, in order to help the mining enterprise restart production soon.

As Margaret Kent, CEO of Tamerlane Company told the representative, the company purchased this project in 2006, and they had funds to secure the production within two years. "We will put the project into production sometime in 2013, if we raise enough investment funds within two years." "It is interesting that zinc resource will be in significant crisis by then. The terminal consumer will face a problem of zinc short supply." She added.

LME has a zinc inventory of 619,000 mt, and rumor says there are about 1 million mt of zinc inventories elsewhere. However, almost all the traders in Asia, Europe and US have been reporting a short supply of zinc recent weeks.

(Edited by SMM)