ABC News reported that CBH Resources says its Broken Hill's Rasp mine will not reopen until zinc and lead prices rise by at least 40%.

CBH had recently announced it will consider development options for the mine after retracting its Perilya takeover bid.

Mr Stephen Dennis, MD of CBH said that the prices would need to rise dramatically for the mine to become viable again. He added that he remains positive that base metal prices will eventually increase.

Mr Dennis further said that "I don't think that's going to come quickly, but when it does come we'd like to be in a position to go forward with not only development at Rasp, but kicking up our production at Endeavor as well."

(Sourced from www.abc.net)