What do we know about Zinc?
With almost 19 million tonnes of lead and zinc reserves, t...
A new lead and zinc mine in China has been discovered in the far-western region of Xinjiang.
With almost 19 million tonnes of lead and zinc reserves, the mine in Hotan county becomes the largest lead and zinc mine in the country.
Zinc, has been a mined commodity since as far back as the 18th century.
Here are ten things you need to know about Zinc:
- Zinc, was used for making brass and medicinal purposes a good few centuries before it was identified as an element
- Pure metallic zinc wasn’t actually discovered until 1746, where it was credited to the hands of Andreas Marggfraf
- Zinc is, wait for it, the fourth most widely consumed metal in the world. The other three? Iron, aluminium and copper – but you knew that already
- One of the most common uses of zinc in the modern world is to combat rust. Yes, rust. While it may give it an old fashioned look with a bit of character, it is dangerous to steels. Zinc is used in zinc galvanising, what with its anti-corrosive properties and all. The process sees thin layers of zinc added to iron or steel to prevent rusting.
- Zinc is used for Zinc alloys. Combined with aluminium and copper, zinc alloys are used widely in the production of many components and die-casting fittings in the automobile manufacturing industry and the mechanical industry. For example, zinc alloy is used as a covering material for roofs
- Zinc alloys make up around 20 percent of all zinc applications in the world.
- Zinc is also used in batteries, but Alkaline batteries are more commonly used these days
- In 2016, the top three zinc producing countries are; China 4.9m MT, Australia 1.58m MT and Peru 1.37m MT
- Zinc as a mineral is naturally present in some foods, added to others and can be taken as a dietary supplement. Studies have shown that zinc may have antioxidant defects, is effective against infection and good for tissue repair.
- Foods which are a good source of zinc are red meats, poultry, oysters, seafood and whole grains
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Lynas revenue jumps 21% as rare earth prices jump
Australian miner Lynas Rare Earths posted a 20.6% rise in revenue in the March quarter as selling prices for the key metals it mines hit record highs amid strong demand, particularly for neodymium and praseodymium (NdPr).
NdPr is used in magnets for electric vehicles and windfarms, in consumer goods like smartphones, and in military equipment such as jet engines and missile guidance systems.
The company said it plans to maintain production at 75% however, as it seeks to continue to meet covid-19 safety protocols and grapples with shipping difficulties. Shares in Lynas fell 6.1% after the results.
“They have faced a few logistics issues, and it would be good to know when they are going to start lifting their utilisation rates a bit,” said portfolio manager Andy Forster of Argo Investments in Sydney.
“Pricing has been pretty strong although it may have peeled back a bit recently. I still think the medium, long-term outlook is pretty good for their suite of products.”
Lynas post ed revenue of A$110mn ($85.37mn) for the three months to the end of March, up from A$91.2mn a year earlier as prices soared.
It said its full product range garnered average selling prices of A$35.5/kg during the March quarter, up from $23.7 in the first half of the financial year. “While the persistence of the covid crisis, especially in Europe, calls for careful forecasts for our business ahead, we see the rare earth market recovering very quickly,” said Lynas, the world’s largest rare earths producer outside China.
Freight demand has spiked during the pandemic, while the blockage of the Suez Canal in March delayed a shipment to April.
Lynas’ output of 4,463 tonnes of rare earth oxide (REO) during the quarter was marginally lower than 4,465 tonnes from a year earlier.