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September 11, 2016

Nevsun ships first zinc concentrate from Bisha mine in Eritrea

Canada-based Nevsun Resources has sold and shipped the first zinc concentrate product from its Bisha mine in Eritrea, East Africa.

Canada-based Nevsun Resources has sold and shipped the first zinc concentrate product from its Bisha mine in Eritrea, East Africa. 

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Nevsun loaded a 10,000t lot at the Port of Massawa and sold the concentrate on the spot market.

Zinc flotation plant expansion at the Bisha mine was completed earlier this year. 

The company noted that the plant will allow the mine to produce separate copper and zinc concentrates simultaneously from processing primary ore from the Bisha open-pit mine.

"Bisha is the only significant new zinc concentrate coming to market in 2016." 

Nevsun Resources CEO Cliff Davis said: “We are pleased to have a high-quality zinc product coming to market in an environment of rising zinc prices. 

“Bisha is the only significant new zinc concentrate coming to market in 2016 and we are being aggressively courted for offtake by various customers.

“We would like to congratulate our partner, the State of Eritrea, for adding another export product to the economy and thank them for their support.”

The company plans to load additional shipments soon and is in the process of ramping up to commercial production, which is forecast for the fourth quarter of this year.

Nevsun owns 60% of the Bisha mine, which has nine years of reserve life and generates revenue from both copper and zinc concentrates containing gold and silver by-products. 

The State of Eritrea owns a 40% stake in the mine through the Eritrean National Mining Company (ENAMCO), with 30% of this bought from Nevsun before initial construction. 

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Dig deeper with our mining equipment forecasts

As ore mines ramp up and come on stream, the total number of active surface machines (including trucks, excavators, shovels, loaders, graders and dozers) is forecast to rise from 141,470 in 2020 to 167,367 by 2025. This will be a CAGR of 3.4% from 2020 to 2025. The largest contributor to this growth is expected to be trucks, particularly smaller-sized trucks with shorter lifespans, used extensively in parts of Asia Pacific. Underground mining equipment is similarly expected to see a CAGR of 2.3% in this same time frame, with the number of mining trucks and loaders/LHDs in active underground mines expected to rise to 19,853 by 2025. GlobalData’s extensive mine-site research and equipment models have been used to build a complete view of mobile mining equipment populations globally for trucks, loaders, graders, dozers, excavators and shovels. This report includes informative breakdowns by each major region and key mining country, and also by major commodity. Read GlobalData’s Global Surface and Underground Mining Equipment: Populations & Forecast to 2025 for a complete view of the market, allowing you to best position yourself for the future.
by GlobalData
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