[miningmx.com] — BLACKTHORN Resources, an Australian mining company, would consider more joint projects in Africa with Glencore International, said Bloomberg News citing Scott Lowe, CEO of Blackthorn.
“We could considerably do some jointly funded operations with Glencore,’ in the area near the Perkoa zinc mine in Burkina Faso, said Lowe who added that supply tightness in the next few years is set to boost zinc prices.
Zinc prices will increase as some mines in Australia, Canada and Namibia are due to close in 2013 and 2014, Lowe told Bloomberg News.
The Perkoa mine, 50% owned by Glencore and 40% by Blackthorn, will start producing in June 2012, with an annual capacity of 90,000 tons of contained metal, he said.
Glencore wants to increase the mine’s capacity by 40% and add silver and lead production, he said.
Blackthorn hasn’t held any talks with Glencore, its largest shareholder with 13 percent ownership, about increasing its stake, he told Bloomberg News. “The company is not for sale,’ Lowe said.
