MMG Ltd. (1208), the publicly traded unit of China’s biggest metals trader, has put on hold shipping of zinc concentrate from the world’s second-biggest zinc mine because of bad weather in Australia’s Queensland state.
MMG has also restricted zinc processing at its Century mine, located about 300 kilometers (186 miles) from the port of Karumba, Melbourne-based spokeswoman Kathleen Kawecki said by phone. A tropical low with gusts of up to 85 kilometers an hour will most likely cross the coast between Aurukun and Kowanyama tonight, Australia’s Bureau of Meteorology said today on its website.
Century has a production capacity of 500,000 metric tons annually, making it the world’s second-biggest zinc mine. Cyclone season in Australia lasts from November to April and can disrupt iron ore operations in Australia’s north-west. Cyclones also form over the nation’s north-east, where zinc, copper and coal mines are located.
MMG’s state-owned parent, China Minmetals Corp., trades non-ferrous metals as well as bulk commodities iron ore and coal.
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