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.