Column: After three years of exports China is now short of lead
The global lead market has bifurcated since the start of June, with Shanghai prices significantly outperforming that of the LME.
Yukon Zinc’s Wolverine Mine, a zinc-silver-copper-lead-gold underground operation located 282 km east of Whitehorse, is shutting down temporarily due to low commodity prices.
Spokesman Alex Wu told the Whitehorse Daily Star that the low silver prices were a driving factor.
The exact number of workers affected was not divulged, but as of May 2014 the company reported 288 staff employed at the mine. Some crew will be assigned to care and maintenance.
The company says an official statement is pending.
Yukon Zinc expects the closure to last for three months but warns the mine could be shut for longer.
Wolverine Mine has on-site milling capabilities of 1,700 tonnes per day. Operations started in 2011. Concentrate is trucked from Wolverine Mine to Stewart, British Columbia.
Yukon Zinc is private. It’s parent is Jinduicheng Canada Resources Corporation Limited.
