First zinc and lead concentrate from South32’s Taylor project delayed to H1 2028

Fastmarkets05-14

Key takeaways: Execution setbacks persist: First production delayed to H1 2028 and costs rising, reflecting contractor and construction challenges. Output trimmed, but scale intact: Lower annual ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFirst zinc and lead concentrate from South32’s Taylor project delayed to H1 2028\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-05-14 12:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fastmarkets.com/insights/first-zinc-and-lead-concentrate-from-south32s-taylor-project-delayed-to-h1-2028/><strong>Fastmarkets</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Key takeaways:\n\nExecution setbacks persist: First production delayed to H1 2028 and costs rising, reflecting contractor and construction challenges.\nOutput trimmed, but scale intact: Lower annual ...</p>\n\n<a href=\"https://www.fastmarkets.com/insights/first-zinc-and-lead-concentrate-from-south32s-taylor-project-delayed-to-h1-2028/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BFXG0V08.USD","symbol_name":"BNY MELLON GLOBAL LEADERS \"B\" (USD) ACC","start_time":0,"source_url":"https://www.fastmarkets.com/insights/first-zinc-and-lead-concentrate-from-south32s-taylor-project-delayed-to-h1-2028/","article_id":"2635797567","we_media_id":null,"thumbnails":[],"rights":{"source":"fastmarkets_highlight","url":"https://www.fastmarkets.com/insights/first-zinc-and-lead-concentrate-from-south32s-taylor-project-delayed-to-h1-2028/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2635797567","pubTimestamp":1778731200,"columns":[],"sourceInfo":{"source_id":"fastmarkets_highlight","name":"Fastmarkets"},"weMediaInfo":null,"summary":"South32 said on April 30 that first production from its 4.3-million-tonne-per-year Taylor zinc-lead-silver project in Arizona has been delayed to the first half of the 2028 calendar year.","collect":0,"end_time":0,"defaultTopTitle":"fastmarkets.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00BFXG0V08.USD":"BNY MELLON GLOBAL LEADERS \"B\" (USD) ACC","BK4585":"ETF&股票定投概念","BK4567":"ESG概念","S32.AU":"SOUTH32 LTD","UYM":"基础材料指数ETF-ProShares两倍做多","BK4104":"贸易公司与经销商","FAST":"快扣","BK4547":"WSB热门概念","IE00B5TLWC47.USD":"BNY MELLON LONG-TERM GLOBAL EQUITY \"B\" (USD) ACC","BK4535":"淡马锡持仓","CPXR":"USCF DAILY TARGET 2X COPPER INDEX ETF","ICOP":"iShares Copper and Metals Mining ETF","IE00BYQQ9H92.USD":"BNY MELLON GLOBAL LEADERS \"A\" (USD) ACC","BK4588":"碎股","CPER":"美国铜指数基金","COPJ":"SPROTT JUNIOR COPPER MINERS ETF","COPP":"Sprott Copper Miners ETF"},"translate_title":"South32泰勒项目的第一批锌铅精矿推迟至2028年上半年","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FAST":0.61,"CPXR":0.81,"COPJ":0.81,"S32.AU":1.96,"MHGmain":0.81,"CPER":0.81,"UYM":0.81,"ICOP":0.81,"QCmain":0.81,"COPP":0.81},"content_text":"Key takeaways:\n\nExecution setbacks persist: First production delayed to H1 2028 and costs rising, reflecting contractor and construction challenges.\nOutput trimmed, but scale intact: Lower annual volumes and grades offset by larger reserves and a ~33-year mine life.\nCopper adds upside optionality: Expanded Peake resource offers future multi-metal potential, but timing remains unclear.\n\nHermosa project timeline delays and revised ramp-up\nFirst production from Taylor — the first development at South32’s broader Hermosa project — has been pushed back by approximately a year from the previous guidance of the first half of 2027, the company said.\nNameplate processing capacity of 4.3 million tpy is expected by June 2031, delayed from June 2030.\nAnnual steady-state output is expected to average 123,000 tpy of payable zinc, 155,000 tpy of payable lead, and 8.2 million ounces per year of silver, down by 6.8%, 4.9% and 3.5% respectively. South32’s feasibility study guidance estimated 132,000 tonnes of zinc, 163,000 tonnes of lead, and 8.5 million ounces of silver.\nTotal payable production over the project’s initial operating life is expected to reach 3.7 million tonnes of zinc, 4.6 million tonnes of lead and 247 million ounces of silver.\nOperational challenges and mitigation efforts\nThe delays are due to contractor underperformance, as well as engineering and procurement delays on shaft sinking. The company said intervention measures — including strengthening contractor leadership, engaging specialist performance advisers and bringing critical scope under direct owner management — had only partially offset the impact.\n“First production is expected in [the first half of 2028] and nameplate capacity by [June 2031], reflecting our revised expectation for shaft construction, due to contractor performance and productivity challenges,” South32 chief executive officer Graham Kerr said.\nFastmarkets’ twice-monthly assessment of the zinc spot concentrate TC, cif China, was $(20)-5 per tonne on April 24, down from $(15)-15 per tonne on April 10.\nFuture copper output at Hermosa\nThe project update also flagged future copper output potential at Hermosa via the adjacent Peake deposit.\nSouth32 said the mineral resource estimate for Peake was increased by 32% to 33 million tonnes at 0.87% copper, 0.28% zinc, 0.32% lead and 36 grams per tonne of silver. The previous estimate, dated June 30, 2025, was 25 million tonnes at 0.79% copper. \nThe entire Peake resource remains classified as inferred – the lowest confidence category under the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC) code.\nThe Taylor process plant has been designed with flexibility to allow for the addition of “a low-cost copper circuit… from Peake and Taylor Deeps,” South32 said.\nTotal metallurgical recovery assumptions disclosed for Peake are 73% for copper, 75% for zinc and 85% for lead, with silver recovery of 52% to the lead concentrate and 30% to the copper concentrate.\nSouth32 has not disclosed a development timeline for Peake beyond “medium to longer term.”\nMine life extended up to 33 years\nTaylor’s initial operating life was extended by approximately five years to about 33 years.\nThe ore reserve estimate was raised by 52% to 99 million tonnes at 3.95% zinc, 4.50% lead and 77 grams per tonne silver, compared with the previous estimate dated June 30, 2025, of 65 million tonnes at 4.35% zinc, 4.90% lead and 82 grams per tonne silver. The reserve underpins approximately 25 years of the operating life, South32 said.\nMined ore grades over the life of the operation are expected to average 3.7% zinc, 4.1% lead and 76 grams per tonne of silver, marginally below the feasibility study guidance of 3.9% zinc, 4.3% lead and 78 grams per tonne of silver. South32 said the larger volume of ore offset the slightly lower average metal grades.\nOperating costs have been revised to approximately US$100 per tonne of ore processed, up from approximately US$86 per tonne at the feasibility study, reflecting general inflation and higher assumed energy costs, the company said.\nFAST-41 critical infrastructure permitting process\nHermosa was the first mining project added to the US government’s FAST-41 critical infrastructure permitting process. South32 said federal permitting under FAST-41 was progressing on schedule, with a final record of decision and notice to proceed on track for the second half of 2026. All state approvals required to construct Taylor have been granted.\nTaylor concentrates will be transported by road from the site to the port of Guaymas in Sonora, Mexico, or to Corpus Christi, Texas, for export, South32 said.\nFastmarkets assessed the lead spot concentrate TC, high silver, cif China at $(280)-(200) per tonne on April 24, up from $(280)-(220) per tonne a month earlier.\nFastmarkets assessed the lead spot concentrate TC, low silver, cif China at $(200)-(160) per tonne on April 24, also up from $(210)-(180) per tonne a month earlier.\nFastmarkets calculated the weekly copper concentrates TC index, cif Asia Pacific – the midpoint between smelter and trader buying levels – at $(115.10) per tonne on Friday May 1, down by $7.80 per tonne from $(107.30) per tonne a week earlier.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.2","shortVersion":"4.42.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2635797567","isCrawlerRequest":true}