CAPITAL MARKETS

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.

Staff reporter
New Century is close to restarting the Century zinc mine

New Century is close to restarting the Century zinc mine

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%.

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