BNC mining plan bears fruit

BNC mining plan bears fruit
Published: 24 October 2013
BINDURA Nickel Corporation's revised mining plan has started bearing fruit after a marked increase in recoveries and a decline in costs, Mwana Africa Plc has revealed.

"Recoveries have increased markedly to almost 89 percent from 69,7 percent previously, while costs have dropped to $9,689 a tonne from $19,251 in the previous quarter," Mwana said in a trading update released today.

Sales from Trojan Mine for the quarter to September, BNC's flagship nickel mine, more than doubled to 1,505 tonnes of nickel concentrate sold to Global commodity trade Glencoe International. BNC's new mining plan for Trojan involves targeting of the mine's high grade or deposits know as massives in what was targeted at increasing sales while reducing per unit cost of production.

The positive production performance augurs well for Mwana Africa as the AIM listed company has continually relied on its other Zimbabwe unit, gold miner Freda Rebecca for profitability.

During the quarter under review the gold producer sustained its positive performance with 17 536 ounces from the mine, representing an increase of 19 percent over the previous quarter.

Cash costs of $837/oz for the quarter were down from $949/oz in the previous quarter while recoveries of 84percent were achieved, being the highest average recoveries to date in 2013.
- bh24
Tags: BNC,


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