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Zinc price lift

Zinc equities have seen some relief with the commodity price rising for the second day in a row on the London Metal Exchange but gold miners were lower as the precious metal price remains in the doldrums.
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New Century is close to restarting the Century zinc mine

Staff reporter

Zinc-focused Trevali Mining (TSX: TV) gained 16% yesterday and diversified Hudbay Minerals (TSX: HBM) was up 2.47% in Canada.

Toronto's metals and mining stocks had closed up 0.11% on the S&P/TSX Composite Index. The gold patch was down 0.39% but the diversified sector was up 1.95% with First Quantum Minerals (TSX: FM) up 2.3%.

Similarly in Australia, S&P/ASX200 gold stocks were off about 1.75% at the time of writing but the diversified sector was up 1.1%.

New Century Resources (ASX: NCZ) which is nearing the restart of the Century zinc mine in Queensland was up more than 4% in afternoon trade.

Among the larger capitalised stocks, miner and mining services company Mineral Resources (ASX: MIN) was up close to 8%.

It is jointly developing a graphite pilot plant with junior Hazer Group (ASX: HZR), which today said pre-pilot plant testing was complete and showing production rate improvements in the order of 400%. Hazer was more than 21% higher this afternoon.

BHP (ASX: BHP) was up more than 0.3% following on from yesterday's gain on strong yearly operational results.

Finally in London, the FTSE100 metals and mining sector had closed 1.71% higher, with gains across the board including Glencore's (LSE: GLEN) 1.72%.