The Vice President for Treck’s Investor Relations and Strategic Analysis,Greg Waller, stated that, the global market of the metal zinc, will soon face a deficit as the large scale zinc producers like the Century Mine, owned by the MMG Group based in Australia, is planning on shutting down the mine after the third quarter of this year. This procedure will most probably erase about 1.5 million tonnes of zinc produce from the global market.
Waller further added that, the metal zinc, might be seen more appealing to the investors right now. The metal has been progressed further more during the cycle. The following three years fill be filled with closure of several dominant zinc mines, from which many number of the has recently stopped their production of zinc. The market of zinc will definitely be in deficit.
He added that, the global zinc market, for the next four years at least will have to face the lack of exploration zinc projects. Many miners in the process of hiking up the demand of zinc and also the price of the metal, has stocked up their production further increasing the deficit of the metal and making it worse. They are putting up their output until the price of zinc climbs over to 1 dollars per pound.