Bindura Nickel Corporation (BNC) said on Thursday nickel sales were up 20 percent to 1 864 tonnes in the quarter ending December 2020 on the back of increased demand and production.
In a trading update, the miner said it had recorded a 9 percent increase in tonnes mined to 111 525.
Head grade was down 8 percent
while recovery remained flat at 86,2 percent.
“The company sold 1 864 tonnes of nickel in concentrate in the quarter under review, which was 20 percent higher than the sales tonnage achieved in the quarter ended 31 December 2019,” BNC said.
“The sales performance was in sync with the improved production during the same period.”
BNC said the price of the mineral on the international market during the quarter was 4 percent higher than the previous quarter as demand from the Chinese market improved as well as improved sentiment following Joe Biden’s win to become the new United States President.
In the next quarter, BNC said there was no anticipation of improved operational and financial performance due to planned production stoppage intended to facilitate the Trojan Mine shaft re-deepening
“However, in the immediate aftermath of the Re-deepening Project commissioning, production will be ramped up to more than 60 000 tonnes of ore per month, particularly in respect of the mining of disseminated ore,” BNC said.
“The company’s operational and financial performance is expected to improve due to the consummation of this critical project.” — Business Reporter/New Ziana.