NORTHWEST TERRITORIES – Canadian Zinc Corp
. has signed offtake agreements with Korea Zinc and Boliden for the sale of zinc and lead concentrates from its Prairie Creek mine. The mine and mill are located about 200 km west of Fort Simpson.
Together, the two customers are expected to purchase all the planned zinc output and half of the planned lead output during the first five years of production. Korea Zinc has agreed to purchase 20,000 to 30,000 tonnes of zinc sulphide, 20,000 tonnes of lead sulphide, and 15,000 to 20,000 tonnes of zinc oxide concentrates per year. Boliden has agreed to buy at least 20,000 tonnes and up to 40,000 tonnes of zinc sulphide concentrate per year, again for a period of five years.
"These offtake arrangements with two of the pre-eminent smelting companies in the world, confirming the marketability of Prairie Creek's zinc and lead concentrates, represent a major step forward in the development of the Prairie Creek mine and move Canadian Zinc closer to production", chairman and CEO stated John F. Kearney.
Development information about Prairie Creek is available at www.CanadianZinc.com