BNC Registers 9 % Tonnage Increase

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By Alois Vinga

LISTED miner, Bindura Nickel Corporation (BNC) has registered a 9 % tonnage output increase among other major improvements in the last quarter of 2020.

This week, the group’s company secretary, Conrad Mukanganga revealed that there has been a 20% improvement in development metres achieved at 355 metres.

“Tonnes mined increased by 9 % as the mine recovered from the effects of the slow down induced by the Covid-19 lockdown in April and May 2020. Tonnes milled increased similarly 9% when compared to the corresponding period last year,” he said.

During the period under review, production of nickel in concentrate of 1 474 tonnes was 1 % lower than the output achieved in the same period last year.

The company sold 1 864 tonnes of nickel in concentrate in the quarter under review, which was 20% higher than the sales tonnage achieved during a comparative period last year.

The developments coincided with the increases of nickel prices on the international market which rose by 4 % during the period.

“The confidence in the recently elected Joe Biden administration in the USA, the approval and subsequent roll-out of the COVID-19 vaccine, as well as the sizeable growth in the Chinese stainless steel and electric vehicle (EV) sales were contributory factors towards the price increases,” Mukanganga said.

The company is not anticipating an improved operational and financial performance for the quarter ending 31 March 2021 due to a planned short production stoppage that is intended to facilitate the Trojan Shaft Re-deepening tie-in Project.

“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.

“The Company’s operational and financial performance is expected to improve due to the consummation of this critical project,” added Mukanganga.