Zinifex Limited
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Zinifex ASX: ZFX is an Australian company operating zinc mines and smelters.
[edit] History
Zinifex is the refloated company of the failed zinc miner Pasminco. Pasminco was declared bankrupt after it made unfavourable hedge positions that made the company insolvent. As part of the insolvency process the mine was refloated with new management as Zinifex. Since floating on the ASX it has been extremely successful mainly due to the company keeping no hedges in place, and benefitting from the massive rise in the zinc price.
Due to it's meteoric share price rise in 2006, Zinifex has obtained somewhat of a cult status amongst traders on the ASX. It is frequently mentioned on share trading forums like HotCopper. The stock's daily share price is characterised by very volatile swings (5-8% is not uncommon), making it a stock trader's obsession.
[edit] Operations
Zinifex Limited is engaged in minerals exploration, production and smelting to produce zinc and lead concentrates, and zinc, lead and silver metals together with various alloys and byproducts, and the marketing of these products. The segments of the Company include Century Mine in north western Queensland, a large open cut zinc, copper and lead mine, operating on a mining lease that it has secured for at least the life of the mine; Rosebery Mine, a medium-sized underground zinc, lead, silver, gold and copper mine located on the west coast of Tasmania in Australia; Hobart Smelter, an electrolytic zinc smelter; Port Pirie Smelter, a primary lead smelting facility; Australian Refined Alloys, an acid battery and lead recycling business owned 50% by Zinifex; Budel Smelter, an electrolytic smelter, and Clarksville Smelter, a modern smelter to access a large portion of the United States zinc market.
Zinifex operates in Australia, Europe and the United States of America.
