Zinc price touched a high of $2,596.50 per tonne last week, while lead has been moving in the opposite direction and is now the clear under-performer of the LME.
The combined company, to be known as Kirkland Lake Gold, will have a market capitalization of about Cdn$2.4 billion and produce more than 500,000 ounces of the yellow metal a year.
The country’s state planner said it would also set up a no-coal zone in cities around Beijing in 2017 to try reducing the capital's hazardous smog levels.
Texas-based Ocean Minerals says the area is also rich in scandium, a key ingredient for making an extremely light, strong, corrosion resistant, heat tolerant and weldable alloy.