Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Canada-based miner Pasinex Resources reported a decline of 5pc in zinc production at 3,050mt at its Horzum operational unit in Turkey in September quarter from the prior year. 


Pasinex, through its 50-50 Horzum Joint Venture, produces direct shipping zinc ore (DSO) at its Pinargozu Mine located in Adana Provence, southern Turkey.


In the nine-month period, production of zinc ore is down 32pc to 9,697mt from the previous year. Horzum AS began developing a new adit, fourth in line, to access zinc sulphide product, which is expected to contain a grade of between 50-60pc.The company stated that by the end of September, approximately 130 metres of the fourth adit was completed.


During the quarter, Horzum AS also received an exploration license for the Mahyalar claim, located to the east of the Pinargozu mine in the Mahyalar district of Kozan for a period license of 7 years. Elevated zinc levels were received from the fieldwork done by the company.  


Pasinex incurred a net loss of $0.4mn in September quarter and $1.1 million nine months ended September 30.  


Pasinex Resources is a Toronto-based mining company that owns 50pc of the producing Pinargozu high-grade zinc mine. Under a Direct Shipping Program, the company sells to zinc smelters or refiner from its mine site in Turkey. The company also holds an option to acquire 80pc of the Spur high-grade zinc exploration project in Nevada


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