NEW YORK, February 6, 2017 /PRNewswire/ --
According to Transparency Market Research, the global base metal mining market projected to reach 160.19 MMT by 2023, which is
a CAGR of 5.01% from 2015 to 2023. The market for base metals is segmented on the basis of type and region. The research
indicates the importance of base metals for growth of the utilities, infrastructure, and manufacturing sectors. Base metal mining
include industrial non-ferrous metals such as copper, nickel, lead-zinc, aluminum, and tin. Aluminum held the largest share
(53.73%), followed by lead-zinc (24%) and copper (16%), of the base metal mining market in 2014. The base metal mining industry
is expected to grow due to increasing infrastructure development across the globe, pushed by demand for energy and urbanization
are some of the factors affecting the demand for base metals. Darnley Bay Resources Ltd. (OTC: DNLYF) (TSX-V: DBL), Mesabi
Trust (NYSE: MSB), Hudbay Minerals Inc. (NYSE: HBM), Cliffs Natural Resources Inc. (NYSE: CLF), Vale S.A. (NYSE: VALE)
The research points out, that, "zinc is another most widely consumed base metal in the world due to its various physical
properties such as galvanizing properties and capability of bonding with various metals. Zinc has been growing due to its
anti-corrosion property which helps prevent corrosion in metals. Corrosion is a major hindrance to the base metal applications.
Lead is primarily used in portable batteries, which are used in vehicles and emergency systems. Expanding portable batteries
market, is driving the demand for lead. Demand for copper is projected to grow with increase in population as it would require
expanding power infrastructure which is copper-intensive."
Darnley Bay Resources Ltd. (OTC: DNLYF) (TSX-V: DBL) is a development stage company with several advanced base
metal projects in Western Canada. The Company's focus is developing the Pine Point zinc project
into production. On January 31st, the company announced that it has appointed Parviz Farsangi and Brian Jennings to the board of directors as independent
directors.
"Mr. Farsangi is a mining engineer with extensive mining and processing experience in Canada
and internationally working with diverse cultures including USA, Jamaica, UK, Brazil, Mexico and
Canada. From 2013-2016, he was the CEO of Canadian Royalties Inc. that commissioned and is
operating the nickel mining and processing facilities in Northern Quebec, near Glencore's Raglan
operation. Previous to that he was President and CEO of Scorpio Mining Corporation, which operated a silver-lead mine and
processing facilities in Mexico. He was also Executive Vice-President and Chief Operating
Officer of Vale Inco and was responsible for Vale Inco's wholly owned properties globally, overseeing a $2
billion operation budget, a $1 billion capital budget, and 8000 employees. Previous to that
Mr. Farsangi spent 20 years in senior positions at Falconbridge, including General Manager of
the Sudbury unit and President of both Gramercy Alumina (Louisiana) and St. Ann Bauxite (Jamaica)."
Brian Jennings, CPA, CA, BSc - Mr. Jennings is a chartered accountant with 27 years of
experience working as a senior financial executive and corporate restructuring professional for both public and private companies
in a wide range of industries. Most recently, he was chief financial officer of Soltoro Ltd., an exploration company that was
acquired by Agnico Eagle Mines in 2015, and president of Southeast Asia Mining Corp. for several years as it commenced permitting
and development of a lead-zinc mine in Thailand. Mr. Jennings also spent nine years with Ernst
& Young in Halifax and Toronto, where he was vice-president
of corporate restructuring and where he was involved in several high-profile assignments, including Hollinger, Philip Services
and Sydney Steel. He is also a geologist."
Royalty trust company, Mesabi Trust (NYSE: MSB) conserves and protects the Trust Estate that operates in the iron ore
mining segment. The Trust derives income from the Peter Mitchell Mine, an iron mine located near Babbitt, Minnesota, at the eastern end of the Mesabi Iron Range. The lessee/operator of Mesabi Trust's
mineral interests is Northshore Mining Corporation, a subsidiary of Cliffs Natural Resources. NMC produces iron ore from Mesabi
Trust Lands. The principal assets of Mesabi Trust consist of two different interests in certain properties in the Mesabi Iron
Range: Mesabi Trust's interest as assignor in the Amended Assignment of Peters Lease and the Amended Assignment of Cloquet Lease
and Mesabi Trust's ownership of the entire beneficial interest in the Mesabi Land Trust, which has interest as fee owner in the
Peters Lease Lands and a fee ownership in certain non-mineral-bearing lands adjacent to the Peters and Cloquet Lease Lands.
Mining company, Hudbay Minerals Inc. (NYSE: HBM) owns 100 percent of Constancia mine,
a copper mine in Peru which was acquired of Norsemont in 2011. It is located in the Province of
Chumbivilcas in southern Peru and consists of the Constancia
and Pampacancha deposits. During the first quarter of 2016, Constancia mining operations
continued as planned and cost optimization is in progress. Ore milled decreased to 6.2 million tonnes from 7.4 million tonnes in
the fourth quarter of 2015 due to lower mill capacity during the replacement of the trunnions on one of the grinding circuits.
The average milled copper grade was 0.57 percent in the first quarter of 2016, compared to 0.63 percent in the fourth quarter of
2015.
Cliffs Natural Resources Inc. (NYSE: CLF) has been a major supplier to the production of iron and steel in the United States by offering steelmakers world-class raw materials. The company continues to be a leading
iron ore mining company and operator. Cliffs' U.S. Iron Ore operations located in Michigan and
Minnesota had an annual rate capacity of 32.9 million tons of iron ore pellet production in
2015, which represents approximately 56 percent of total U.S. pellet production capacity. Cliffs owns and operates five of the
eight open pit iron ore mining and processing facilities in the U.S.
Metals and mining company, Vale S.A. (NYSE: VALE) is a producer of iron ore and iron ore pellets, and nickel. The
Company's segments include Ferrous minerals, Coal, Base metals, Fertilizers and Others. Its Ferrous minerals segment consists of
the production and extraction of ferrous minerals, as iron ore, pellets and its logistic services, manganese and ferroalloys, and
other ferrous products and services. Its Coal segment consists of the extraction of coal and its logistic services. Its Base
metals segment includes the production and extraction of non-ferrous minerals, and is presented as nickel and its by-products and
copper. Its Fertilizers segment includes the production of the three major groups of nutrients and other fertilizers products.
Its other segment consists of sales and expenses of other products, services and investments in joint ventures and associate in
other businesses.
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