$26m for BNC smelter

$26m for BNC smelter
Published: 15 July 2014
Bindura Nickel Corporation (BNC) Limited says it requires about $26 million to restart its smelter project, expected to improve payability and profits.

Speaking at an analyst briefing on Monday, BNC finance director Herman Jacobs said the smelter restart will assist on the elimination of penalty on deleterious minerals.

"The project requires $26 million and this was approved by the board. 50% will come from internal cash generation while 50% will come from debt. The smelter restart will improve payability, eliminate penalty on deleterious minerals, significantly reduced transportation costs," he said

The smelter is anticipated to be in operation in the first half of 2015.

The smelter restart will see a significant reduction in transport and penalty costs associated with the sale of concentrate. The amount receivable on the nickel content will also increase significantly, giving a positive impact on the financial performance of the company.

Nickel prices have improved over the past few months following the Indonesian ban of nickel ore exports.

BNC's Trojan mine is now poised to reach steady state and would focus on the enhancement and reinforcement of the productive capacity of the mine and the plant  through robust machinery and equipment procurement, refurbishment and maintenance system.
- Zim Mail
Tags: BNC, Nickel, Bindura,


Latest News

Latest Published Reports

Latest jobs