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End of the silver lining - Are zinc mines at risk?

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19 July 2013

End of the silver lining - Are zinc mines at risk?

Report summary

In recent years revenue from by-products, particularly silver and gold, has transformed the economics of many zinc mines and projects, and in some cases supported production at some marginal operations. In 2012, silver contributed 23% of net revenue at zinc mines. However, in June 2013 the silver price fell to US$18.6/oz, 40% below the 2012 average. The weakening of the silver price led to many producers and investors to review the economics of their mining operations. Yukon Gold for...

Table of contents

  • Executive summary
  • Introduction
  • Margins are squeezed
  • High silver mines under pressure
  • 900kt vulnerable to closure

Tables and charts

This report includes 7 images and tables including:

  • Zinc mine net revenue US$ billion 2000-2012
  • Monthly silver prices January 2004 to July 2013
  • Price sensitivity assumptions
  • Zinc mining margin curve for 2012 vs scenario 1 and scenario 2
  • Zinc mine cost curve, 2012, highlighting mines with silver net revenue > 25%
  • Zinc mine cost curve, 2013 Scenario 2, highlighting mines with silver net revenue > 25%
  • Total cash flow generated in 2012 vs scenario 1 and scenario 2

What's included

This report contains:

  • Document

    End of the silver lining - Are zinc mines at risk?

    PDF 473.42 KB