Japan Oil, Gas and Metals National Corporation discovered the highest grade zinc deposit, which contains 12.7% of zinc, 4.1% of lead and 111 grams of silver per tonne of ore, in Atalaya, Peru, announced on Friday. JOGMEC will sell the exploration right to Compania Minera Santa Louisa of Peru, in which Mitsui Mining & Smelting has 70% interest and Mitsui & Co. has 30% interest after the tender on December 7.
JOGMEC confirmed the deposit in Atalaya, as a result of recent drilling survey. Compania Minera Santa Louisa is operating Huanzala mine and Pallca mine in Peru. The firm produced 29,000 tonnes of zinc and 11,000 tonnes of lead at Huanzala and 12,000 tonnes of zinc at Pallca in 2008. The zinc output from the 2 mines represented 6.6% of Japanese import volume. JOGMEC signed memorandum of understanding with Ministry of Mineral Resources of Republic of Mozambique for further cooperation to explore and develop resources in Mozambique, announced on Friday. Mozambique has a potential as new major source of nickel, cobalt and uranium.Japan Steel Scrap Composite Prices (Sangyo Press)
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