The current conditions in the zinc concentrate market are the biggest challenge to operating Noranda Income Fund's (NIF) processing facility profitably, the company said.
NIF, which owns the Canadian Electrolytic Zinc (CEZ) facility in the Canadian province of Quebec, said that the supply tightness in the zinc concentrate market was the result of several large mine closures in recent years and strong global demand. CEZ is in turn a wholly-owned subsidiary of Glencore Canada.As a result, spot treatment charges (TCs) - paid to smelters for the costs of...