TORONTO (miningweekly.com) – Vancouver-based Nevsun Resources has adjusted the capital cost estimate for its Bisha mine, in Eritrea, to some $260-million, from the original budget of around $250-million, the firm said on Thursday.

With the project approaching the halfway mark, the company and its engineering, procurement and construction management contractor carried out a comprehensive cost review over the last month.

The mine will soon be 50% complete, and procurement for the project is at about 90%, the company said in a statement.

Both the SAG and ball mill were delivered in December, and preparations are under way for their installation, Nevsun added.

The Bisha gold/silver/copper/zinc mine, in which Nevsun owns 60% and the government of Eritrea holds 40%, is scheduled to start production in the second half of this year.

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