TORONTO (miningweekly.com) – TSX- and NYSE-listed miner Nevsun Resources, which operates the Bisha gold/copper mine in Eritrea, on Thursday reported maiden copper output of 12-million pounds in concentrate for the third quarter ended September 30.
Gold production had slowed from the start of the year as the company readied the operation to switch to copper production from the start of the second half of the year.
During the quarter, gold output totalled 13 300 oz, derived mainly from the decommissioning process of the gold carbon-in-leach circuit.
The commissioning and ramp-up of the copper expansion continued, with commercial production expected late in the year or in the first quarter of 2014.
Precommercial copper concentrate production was moving to the Port of Massawa and the first bulk shipments of concentrate were expected in October.
"After successfully starting the high-grade Bisha mine and producing about 800 000 oz of gold since 2011 at a cash cost of less than $350/oz, we are pleased to begin the next phase of the Bisha mine as a significant copper producer. The capital programme to implement the copper circuit has been completed on time and on budget and we have been able to bring initial product to the market,” CEO Cliff Davis said.
Total tonnes mined were up 60% quarter-on-quarter with ore mined up 30% to 559 000 t. The ore mined included 232 000 t of remnant oxide and pyrite sand, which has been stockpiled for future processing.
The waste mined increased 70% quarter-on-quarter to 2.8-million tonnes, for a strip ratio of 8.5:1 by volume. The stronger performance reflected putting new equipment to use and improvements in maintenance.
Vancouver-based Nevsun said the overall waste stripping remained behind plan for 2013; however, this was expected to have minimal impact on copper ore production through 2014. Actions remained in place to resolve the remaining issues and deliver the required stripping going forward.
Nevsun said it remained on track to produce between 30-million and 50-million pounds of copper in concentrate during 2013.