The Noranda Income Fund (NIF) will buy half of its zinc concentrates supply from Glencore based on floating spot terms from May 2019 to April 2020 in a bid to capitalize on rising treatment charges (TC).
Glencore Canada is in a four-year agreement to supply all of NIF's zinc concentrate feed through April 30, 2022, while NIF will sell all of its zinc metal output to Glencore during the period, the fund said on Friday March 8. The deal is one of the first settled among key zinc producers in 2019....