RE:RE:RE:RE:RE:Two Companies,Two Headlines, Two MetalsMacRellen wrote: A correction on myself: Glencore will get 1.5% of what Santacruz earns on selling metals from their Bolivian assets to smelters. Or more precisely 1.5% of the net revenue Santacruz receives from selling metals to smelters (costs for transportation, insurance, marketing and refining are deducted from gross revenue).
Can i refer you to a regular poster on the Trevali board named firecracker74. He is brilliant. Scroll down his past posts and you will find near encyclopedic explanations for all things zinc great and small.
Miners don't 'sell' to refineries. They ship the rock to them and pay set refining fees per ton. Processed metal is then forwarded to either of the two largest warehouse organizations--the LME or the hard charging newcomer in Shanghai--for distribution.