Bindura targets high grade ore body financed by local debt

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By Zimbabwe Investor on August 13, 2013. No Comments

bindura0_1523412aLONDON (Zimbabwe Investor) – Mwana Africa has announced that its subsidiary Bindura Nickel Corporation (BNC) has revised its mining plan at Trojan Mine to target higher grade zones of ore body known as “massives” following the recent fall in nickel prices.

“The occurrence of the massives enables higher grade ore to be mined and thus reduces the cost per tonne of nickel produced”, said Mwana in a statement to shareholders.

“BNC management is already successfully applying the new mine plan at Trojan and is confident that the new plan will significantly improve BNC’s cash flow and reduce its working capital requirements”.

“BNC is in the process of seeking debt finance from Zimbabwean banks for the reduced working capital requirement”.

BNC has sold over 1,000 tonnes of nickel since the first concentrate was sold in April 2013 following the restart at Trojan.