JOHANNESBURG (miningweekly.com) – Aim-listed Mwana Africa’s 76.5%-owned Bindura Nickel Corporation (BNC) mining operation, in Zimbabwe, is examining alternative mine plans with the objective of improving short-term cash flow and reducing its funding requirement.
Mwana Africa said on Tuesday that BNC’s new mine plans would use the mining flexibility afforded by the presence of higher-grade massive sulphide ore in the Trojan orebody. The company was in the process of seeking short-term bridging finance to cover its funding shortfall and continued to focus on the preservation and integrity of the business and its assets.
Mwana Africa recently announced that it was tightening its belt in response to the new lower-priced minerals environment that had plunged a number of Aim-listed miners into uncertainty.
The company aimed to save about $5-million a year and was considering its strategic options for its assets and projects, including BNC.