Zellidja lead plant may re-open

摘要

News has emerged that Binani has signed a deal that could pave the way for the re-opening of Zellidja. This smelter has historically treated relatively low-silver lead concentrates, although customs figures suggest that it was treating some higher-silver tonnages from Peru in the lead-up to its closure in 2012. Although lead prices no doubt played a part, concentrate pricing was a significant influence too. TCs for low-silver tonnages had been falling. Realised contract TCs averaged $227/t in 2009-11, but slipped to $204/t in 2012 and to an average of $184/t in January-October 2013. Of course, terms for high-silver tonnages were much higher, but operating in this market is only feasible if you can recover all of the payable silver. And we understand that processing scrap was banned by the Moroccan government.