CHARTS: The coming critical minerals trade war is BRICS short of a load
"While a large number of countries around the world continue to talk about securing raw material supply, China is actually doing something about it."
Glencore Xstrata passed Tuesday the final hurdle for a $360 million expansion of its Australian McArthur River zinc-and-lead mine, securing local government approval for a development that will more than double he amount of zinc and lead produced at the site.
According to Faxts Media, the phase three-development project will make of McArthur River Mine the largest zinc resource in the world.
Glencore Xstrata had already received federal authorization but was waiting for the final approval from Australia’s Northern Territory Government.
The extension of the mine, located about 1,000 kilometres south-west of Darwin, is expected to create 300 additional jobs, as well as income for the region’s mining services industry.
