EMO lovers are missing somethingThe world is awash in zinc. Ivanhoe will soon be mining 35% zinc + byproducts. They will make money at any zinc price, and keep the market well-supplied. Only the best deposits will get developed, or acquired by majors to be developed. Cheap power in Europe doesn't exist, so smelting on that continent is expensive and probably won't happen. The offshore smelters know this and will charge accordingly. 4% zinc deposits will stay on the shelf, probably indefinitely.