Pulacayo Project Feasibility Study - Apogee Silver

Pulacayo 1 000 t/d Phase I Feasibility Study - NI 43-101 Technical Report
090644-3-0000-20-IFI-100
tons (see Figure 19.7). At these historically high prices, numerous zinc mine reactivations
occurred which, combined with ever-expanding output in China, rapidly reversed the market
imbalances.
Figure 19.7: Zinc Prices: 1989 to Present
Exacerbated by the global financial crisis, zinc inventories on the LME began their relentless
increase in 2007 to the point where they now sit above the 1 Million mt mark, a 17 year high and
alone representing close to four weeks supply (Figure 19.8).
Figure 19.8: LME Zinc Inventories: 2007 to Present
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