https://www.miningweekly.com

Nevsun reports full power restored at Eritrea ops, lifts dividend

15th December 2014

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

TORONTO (miningweekly.com) – Horn of Africa-focused copper miner Nevsun Resources on Monday reported that a third-party power solutions provider has fixed and restored the electricity supply to the Bisha plant, in Eritrea.

Nevsun last week reported that power supply issues had forced a temporary halt in concentrate production at its flagship operation.

Vancouver-based Nevsun reported that the 27-generator-strong third-party-supplied power plant was undergoing routine maintenance when it failed to reliably restart.

The company reported that output was not impacted, as the mine was able to draw down and sell from concentrate stockpiles.

NYSE- and TSX-listed Nevsun on Monday reported that its board had declared a quarterly dividend of $0.04 a share, up 14% from previous quarters.

“This is the fourth time we have increased the dividend rate since commercial production in 2011. Our willingness to increase our dividend even in the current metals’ price environment is based on our confidence in the long-term profitability of the Bisha mine,” CEO Cliff Davis said.

Edited by Creamer Media Reporter

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION