NetworkNewsWire Editorial Coverage: Increasing global demand countered by a worldwide shortage have made zinc a red-hot commodity, and mining companies are racing to cash-in on the shortage. Companies like Kootenay Zinc Corporation (CSE:ZNK) (OTCQB:KTNNF) (Kootenay Zinc Profile), Nevsun Resources Ltd. (NSU), Ivanhoe Mines LTD. (IVPAF), Teck Resources Limited (TECK) and Hudbay Minerals Inc. (HBM) are working to address the world’s current zinc shortage and take advantage of the subsequent rise in zinc prices.
The imbalanced market, in part, is fueled by the 2016 shutdown of various zinc mines in China (which is both the world’s biggest zinc producer and its biggest zinc consumer) and the dwindling ore supply of major zinc mines. While zinc prices sagged in 2015, the base metal was a top performer out of the 22 raw materials tracked by the Bloomberg Commodity Index. Goldman Sachs the following year called zinc “the bullish exception in the metals space,” and predicted that a deeper shortage would send zinc prices as high as $2,500 per metric ton in 2017. Zinc outpaced expectations, however, and as of May 2017, the price of the mineral reached…
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