Recently, the lead concentrates market has remained relatively stable amid a confluence of macro and industry factors. Although sulphuric acid prices surged significantly and silver prices experienced wild swings driven by events such as the US-Iran peace talks and the Peruvian energy crisis, the transmission of these factors to the silver-bearing lead concentrate TCs space was limited, and lead concentrate TCs remained broadly stable overall.

[Lead-Zinc Ore Market Dynamics] Recently, Yunnan Chihong Zn & Ge Co., Ltd. responded to investor questions on an interactive platform, stating that the company is proceeding in an orderly manner with the third-phase exploration and boundary delineation exploration of the Xidong lead-zinc mine. The mining permit application and plan optimization for the Jinxin molybdenum mine are being actively advanced, and the matter has received great attention from leaders at the Ministry of Natural Resources and relevant authorities in Heilongjiang and Inner Mongolia.

[Lead-Zinc Ore Market Dynamics] According to information from the National Intellectual Property Administration, Yunnan Chihong Zn & Ge Co., Ltd. and the Institute of Resources Utilization and Rare Earth Development of Guangdong Academy of Sciences filed a patent application titled "A Clean Beneficiation Method for High-Copper Complex Copper-Lead-Zinc Ore." The publication number is CN121945277A, and the application number is CN202610289146.5.

[Lead-Zinc Ore Market Dynamics] A project advancement meeting for the Feihushan lead-zinc mine was held this week in Huzhong District, Heilongjiang, chaired by Guan Jingjun, Deputy Secretary of the District Party Committee and District Governor. The total investment for the Feihushan lead-zinc polymetallic mine development project is expected to be 396.7111 million yuan, with all required funds to be self-raised by the enterprise. Upon completion, the project will have an annual capacity of 300,000 mt of raw ore (including 200,000 mt of lead-zinc ore and 100,000 mt of iron ore). The mineral processing products will be lead concentrates, zinc concentrates, and iron ore concentrates, with a service life of 14 years (excluding a 4-year construction period).

[Lead-Zinc Ore Market Dynamics] It was reported that in April 2025, Western Mining Co., Ltd. obtained the mining permit for the Youre lead-zinc mine in Baiyu County, Sichuan Province. The mine holds lead-zinc ore resources of 6.792 million mt, including lead metal content of 297,100 mt and zinc metal content of 431,200 mt. Associated resources include silver metal content of 405 mt and copper metal content of 21,900 mt. The mine has a designed processing capacity of 600,000 mt/year, and upon completion, the project will boost the production of ore-derived lead and ore-derived zinc.

According to an announcement by NFC, on April 2, 2026, Zhongse Indonesia Dari Mining Co., Ltd., a holding subsidiary of China Nonferrous Metal Industry's Foreign Engineering and Construction Co., Ltd., obtained the "Environmental Feasibility Decision (SKKL) on Mining Activities of Lead-Zinc Ore by Dari Mining in SilimaPungga-Pungga Township, Dari County, North Sumatra Province" issued by the Ministry of Environment of the Republic of Indonesia. According to NFC's disclosure, the mine is an underground mine with a designed capacity of 1 million mt/year. As of 2024, the total resources/reserves of the Dari lead-zinc mine were: ore volume of 20.7009 million mt, zinc metal content of 2.2562 million mt, lead metal content of 1.3203 million mt, with an average zinc grade of 10.90% and an average