Australia's Consolidated Zinc jumps on drop in zinc concentrate treatment cost

Yari Resources

12/04/2021 05:51

** Shares of Consolidated Zinc  CZL.AX  skyrocket as much as
19.5% to A$0.049, their biggest intraday percentage gain since
Dec 10, 2020
    ** Zinc miner says the 2021 zinc concentrate benchmark
treatment charge (TC) has been agreed between major miners and
smelters at US$159.00/tonne of concentrate, a drop of 47% from
last year
    ** Says this is expected to have a positive impact on
operating costs as TC in 2020 represented 33% of total operating
costs  urn:newsml:reuters.com:*:nASXqq4vp
    ** Stock hits its highest since Feb. 8
    ** Nearly 6.6 mln shares change hands, vs the 30-day average
volume of ~850,000 shares
    ** Stock has fallen 16.3% this year, as of last close

 (Reporting by Vasudha Kaukuntla in Bengaluru)
 ((Vasudha.Kaukuntla@thomsonreuters.com))