Noranda Income Fund, BaseCore Metals in zinc streaming deal

A subsidiary of Noranda Income Fund (NIF) has entered into a streaming deal with streaming and royalty company BaseCore Metals LP for zinc processed and refined at its electrolytic processing facility in Quebec, Canada, the company said.

The proceeds of the deal will be used to expand capacity at the company’s Canadian Electrolytic Zinc (CEZ) refinery by around 20,000 tonnes per year.
BaseCore is an equal joint venture between Glencore Canada Corp and Ontario Teachers’ Pension Plan Board. NIF’s refinery is operated and managed by Canadian Electrolytic Zinc Ltd, a wholly-owned subsidiary of Glencore Canada.
The refinery, located in Salaberry-de-Valleyfield, Quebec, is the second-largest zinc processing facility in North America and currently produces refined zinc metal and various byproducts from sourced zinc concentrates.

NIF has sales and production guidance for the year of 525,000-535,000 tonnes of zinc concentrate and secondary...

Published

Andrea Hotter

July 28, 2020

16:57 GMT

New York