8-K

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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                             ----------------------

                                    FORM 8-K


                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934



       Date of Report (Date of earliest event reported): DECEMBER 8, 1999



                                ZEMEX CORPORATION
               (Exact Name of Registrant as Specified in Charter)


          DELAWARE                      1-228                  13-5496920
(State or Other Jurisdiction         (Commission              (IRS Employer
      of Incorporation)              File Number)         Identification Number)


            CANADA TRUST TOWER, BCE PLACE
              161 BAY STREET, SUITE 3750                          M5J 2S1
               TORONTO, ONTARIO, CANADA
       (Address of Principal Executive Offices)                  (Zip Code)


Registrants' telephone number, including area code: (416) 365-8080





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                    INFORMATION TO BE INCLUDED IN THE REPORT

ITEM 5.      OTHER EVENTS.

             A copy of the Registrant's press release, dated December 8, 1999,
is attached hereto as Exhibit 99.1. The press release relates to the retention
of a financial advisor to assist in improving shareholder value.




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                                    SIGNATURE


         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                          ZEMEX CORPORATION


Dated:  December 14, 1999                 By: /s/ Allen J. Palmiere
                                              __________________________________
                                              Allen J. Palmiere
                                              Vice President and Chief Financial
                                              Officer



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                                  EXHIBIT INDEX

Exhibit
Number                               Description
- -------                              -----------
 99.1         Press Release, December 8, 1999, entitled "Zemex Retains
              Financial Advisor to Assess Ways to Improve Shareholder Value."

EX-99.1

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                                                                    Exhibit 99.1

[LOGO]


                                  NEWS RELEASE
                              FOR IMMEDIATE RELEASE

                         ZEMEX RETAINS FINANCIAL ADVISOR
                                TO ASSESS WAYS TO
                            IMPROVE SHAREHOLDER VALUE


TORONTO, CANADA -- DECEMBER 8, 1999 -- ZEMEX CORPORATION (TSE, NYSE:ZMX)
announced today that it has retained the services of Banc of America Securities,
LLC to review methods and opportunities to maximize value for the shareholders
of Zemex.

Richard L. Lister, President and Chief Executive Officer of Zemex, commented,
"Although Zemex's financial performance and strength have improved significantly
since 1993, the Corporation's share price has failed to create a corresponding
increase in value for our shareholders. We have engaged Banc of America
Securities to assist us in identifying and evaluating alternatives that may be
available to the Corporation."

The Corporation also stated that it could give no assurance that any transaction
would result from these efforts.

Zemex Corporation is a diversified producer of industrial minerals, specialty
products and metal powders and, through its Alumitech division, reprocesses
aluminum drosses with patented zero discharge technology. Zemex currently
operates facilities across the United States and Canada. Its products are used
in a variety of commercial applications and are sold throughout the United
States, Canada and Europe.

For further information, please contact:

                  Richard L. Lister
                  President and Chief Executive Officer
                  (416) 365-5667

                  Allen J. Palmiere
                  Vice President and Chief Financial Officer
                  (416) 365-8091

                  Patricia K. Moran
                  Corporate Secretary and Assistant Treasurer
                  (416) 365-8093

This press release may contain "Forward-Looking Statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. These forward
statements include statements regarding the intent, belief or current
expectation of the Corporation and members of its senior management team,
including, without limitation, expectations regarding prospective performance
and opportunities. Investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from those
contemplated by the Corporation.