project. On Monday, South32 revealed Taylor would cost more to build than the previous owner expected in 2018.
“Zinc and silver are far more attractive in a world that needs ‘green’ metals, particularly if you believe in the 1.5 degree [global temperature rise] scenario where demand for those will significantly increase,” he said.“It means that primary zinc demand will effectively be two times – it will go to 24 million tonnes.
“There is going to be a strong demand for new material and the reality is for that to occur you are going to have to induce new projects and those projects are going to be more and more challenging.”Costings for the Taylor project were set by the Preliminary Economic Assessment filed by US company Arizona Mining, which South32 boughtMr Kerr said Arizona Mining’s 2018 estimates were “promotional” in nature and South32 had always assumed the project would cost more than was suggested.
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