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Glossary of Terms

Alloy

Metal containing several components.

Backwardation

Market condition where price of a forward or futures contract is trading below the expected spot price

Base Metal

Non precious metal, usually refers to copper, lead, and zinc.

Blast furnace

A tall shaft furnace used to smelt sinter and produce crude lead bullion and a slag.

Bullion

Crude metal that contains impurities; needs to be refined to make market quality metal.

Cadmium

A soft bluish white ductile malleable toxic bivalent metallic element; occurs in association with zinc ores.

C1 cash costs

The costs of mining, milling and concentrating, onsite administration and general expenses, property and production royalties not related to revenues or profits, metal concentrate treatment charges, and freight and marketing costs less the net value of the by-product credits.

CAGR

Compound Annual Growth Rate.

Calcine

Product of roasting zinc sulphide concentrates; mainly zinc oxide, also with silica and iron compounds, lead compounds, minor elements and residual combined sulphur.

Casting

Manufacturing method in which a molten metal is poured into a mould to form an object of the desired shape; typically ingots or blocks (jumbos)

Cathode

Negatively charged electrode in electrolysis; in zinc and cadmium electrolysis, the cathode is a flat sheet of aluminum.

Cell house

The location in the production process where zinc metal is electrolytically plated onto aluminum cathodes.

CGG

Continuous Galvanizing Grade zinc; contains alloying agents such as aluminum. lead and selenium in specific qualities desired by customers; used in continuous strip galvanizing plants.

Cobalt

A hard, lustrous, silvergrey metal.

Coke

Product made by devolatilization of coal in the absence of air at high temperature.

Concentrate

Material produced from metalliferous ore by mineral processing or beneficiation; commonly based on sulphides of zinc, lead and copper; in a concentrate, the abundance of a specific mineral is higher than in the ore.

Contango

Market condition where price of a forward or futures contract is trading above the expected spot price.

Continuous galvanizing

A system for providing a continuous supply of material to be galvanized.

Conversion Price

Operating cost for a smelter to produce market quality metal, not including the cost of raw materials.

Copper cementate

Metallic copper obtained by cementation.

Copper sulphate

A copper salt made by the action of sulphuric acid on copper oxide.

Die casting

A process for producing parts in large quantities, by injecting molten metal under pressure into a steel die.

dmt

Dry metric tonne.

doré

Unrefined gold and silver bullion bars, usually consisting of approximately 90% precious metals, which are to be further refined to almost pure metal.

Electrolysis

The process by which metals (here zinc, cadmium, and copper) are ‘won’ or deposited from solution onto a cathode by the passage of an electric current through the solution between anode and cathode.

Electrolyte

Solution containing metals (here zinc, cadmium, copper and silver) circulating in an electrolysis cell.

Electrolytic smelting

Smelting that roasts and then leaches concentrates to produce a zinc bearing solution. Zinc is subsequently recovered from the solution using electro winning and then melted and cast into slabs.

Electrowinning

The process of removing metal from a metal bearing solution by passing an electric current through the solution.

EPA

Environment Protection Authority of a state, provincial or federal government.

Flotation

A method of mineral concentration, usually of sulphide ores, by which valuable mineral particles adhere to froth bubbles for collection as a concentrate; waste particles remain in the slurry for eventual disposal as a tailing.

Fuming, fume

A process for recovering of zinc and lead from molten lead blast furnace slag by injecting coal; the metals are removed as vapors in the gas stream, and are deoxidized to form a fume that is collected.

glt

Grams per tonne

Galvanizing

Process of coating steel sheet or fabricated products with a thin layer of zinc for corrosion protection.

Germanium

A brittle grey crystalline element that is a semiconducting metalloid (resembling silicon).

Grade

Quantity of metal per unit weight of host rock.

Greenhouse gases

Gaseous components of the atmosphere that contribute to the greenhouse effect.

Grinding

Size reduction to relatively fine particles.

Gypsum

Calcium sulphate, hydrated.

Indium

A rare, soft silvery metallic element.

JORC Code

The 2004 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves as published by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia.

kt

Thousand tonnes.

lb

Pound.

LBMA

London Billion Market Association.

Leaching

A process using a chemical solution to dissolve solid matters.

Life-of-mine

Number of years that an operation is planning to mine and treat ore, taken from the current mine plan.

LME

London Metal Exchange.

Lost time injury rate (LTR)

Twelve month rolling averages of the number of lost time injuries per million hours worked, and include all employees and contractors across all operations.

Ore

Mineral bearing rock.

Oxidation

The process by which minerals are altered by the addition of oxygen in the crystal structures.

Oxide

washing Process to remove halides from zinc secondaries.

Recordable injuries

Any injury requiring medical treatment beyond first aid.

Recordable injury rate (RIR)

Twelve month rolling averages of the number of recordable injuries per million hours worked, and include all employees and contractors across all operations.

Refining

Charge or RC An annually negotiated fee that may be linked to metal prices, paid by the miner or seller of precious metals to a smelter as a concession on the cost of the metal concentrate or secondary feed materials that the smelter purchases.

RLE process

Roast Leach Electrowin technology used for the production of zinc and which combines the roasting, leaching and electrowinning processes. See also definition of each individual process.

Roaster

In zinc production, a fluid-bed furnace used to oxidize zinc sulphide concentrates; operates typically at 930-970°C; air injected through the furnace bottom ‘fluidizes’ the bed of fine combusting solids.

Roasting

The process of burning concentrates in a furnace to convert the contained metals into a more readily recovered form.

Secondaries

See: Secondary feed materials.

Secondary feed materials

By products of industrial processes such as smelting and refining that are then available for further treatment/recycling. It also includes scrap from metal machining processes and from end-of-life materials.

SHFE

Shanghai Futures Exchange SHG Special High Grade Zinc; minimum 99.995% zinc; premium quality, used by die casters; traded on the LME; attracts a price margin over lower grades.

Slag

Mixture of oxides produced in molten form in a furnace at high temperature. Smelting Chemical reduction of a metal from its ore by fusion.

Sulphides

Minerals consisting of a chemical combination of sulphur with metals.

t

Metric tonne.

t oz

Troy ounce.

Tailings

Material rejected from a treatment plant after the recoverable valuable minerals have been extracted.

Treatment

Charge or TC An annually negotiated fee that may be linked to metal prices, paid by the miner or seller to a smelter as a concession on the cost of the metal concentrate or secondary materials that the smelter purchases.