It’s a transformative year for Nevsun Resources (TSX: NSU; NYSE-MKT: NSU), as the company and its 40% joint-venture partner, Eritrean National Mining, remain on schedule and under budget to complete a zinc expansion project this May at their Bisha open pit copper-zinc mine, 150 km west of Asmara in Eritrea.
The zinc circuit’s updated capital cost has been updated to US$80 million, or US$20 million under budget. It will be used to process primary zinc ore as mining at Bisha moves below the supergene horizon and into the zinc-rich part of the volcanogenic massive sulphide (VMS) deposit.
The new zinc and existing copper flotation plants could produce 225 million lb of zinc and 53 million lb of copper-in-concentrate every year through 2025 – not too different from the total copper tonnage produced at the mine in 2015.
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