Red Dog Mine Posts Another Strong Quarter
compared to the second quarter of 2021 to expected shifts in ore grades at Red Dog. The ore fed into the mill at Red Dog during the second quarter of this year averaged 16.8% zinc and 3% lead, compared to 14.1% zinc and 4.3% lead during Q2 2021. The strong zinc output at Red Dog comes during a quarter that the price for a pound of this galvanizing metal averaged US$1.78, a 4% increase over the US$1.70/ pounds average for the first quarter of this year and a 35% jump over the US$1.32/pounds during Q2 2021. The zinc price, however, began dropping late in the second quarter and is currently sitting around US$1.40/ pounds. This pullback in the price of this metal vital to a large swath of the global economy is due to concerns over inflation, high energy prices, and a possible recession, which has caused buyers to slow purchases and focus on adjusting inventories until clarity returns to the market.
North of 60 Mining News Teck Resources Ltd. has reported another quarter of strong zinc production and revenues from its Red Dog Mine in Northwest Alaska. During the second quarter of this year, Red Dog produced 143,800 (317 million pounds) of zinc, 9 percent higher than the 131,600 metric tons (290.1 million pounds) produced during the first quarter of this year and a slight increase over the 140,300 metric tons (309.3 million pounds) produced during the same period of 2021. Second quarter lead production at Red Dog was 21,000 metric tons (46.3 million pounds), down slightly from the 21,500 metric tons (47.4 million pounds) produced during the first quarter and a 25% drop from the 28,500 metric tons (62.8 million pounds) produced during the same period last year. Teck attributes the differences in metals output
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August 2022 I The Alaska Miner I www.alaskaminers.org
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