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Business Reporter
BINDURA Nickel Corporation (BNC) has completed the shaft re-deepening tie-in project and refurbishment of the concentrator plant, which are part of its massive capital spending.

The nickel producer announced an increase of capital spending to US$8,9 million in the first quarter ended March 2021, up from US$5,1 million in the prior year.

In a trading update for the quarter ended June 30, 2021, BNC said from March to April, a planned production stoppage came into effect to facilitate the completion of the shaft re-deep tie-in project.

“During the period March to April 2021, a planned production stoppage came into effect to facilitate the completion of the shaft re-deep tie-in project, as well as the refurbishment of major components of the concentrator plant,” it said.

“Both were successfully completed. Production resumed at the end of April 2021, following the commissioning of these projects.”
Despite absence of production for most of April 2021, tonnes milled in the quarter under review were marginally higher than for the comparative period in 2020.

“This was due to the loss of production during the latter period, occasioned by the operational restrictions imposed by the Government in response to the advent of the Covid-19 pandemic, coupled with the unavailability of massives in the production mix, which were in turn attributable to lagging development,” said the company.

“Head grade, at 1,45 percent, was marginally lower than in the prior year.”
BNC said the mineral recovery of 86 percent was higher, in the quarter under review, than the 85 percent achieved in the comparative period in the previous year.

This was mainly due to improved plant performance after the concentrator refurbishment exercise. Nickel concentrates produced were marginally higher than the previous year’s production in the comparative period, mainly due to the increase in tonnes milled.

Ore milled was 95 518 tonnes as at end of June 2021 compared to 85 888 tonnes in the comparable period last year. The company envisages that capital expenditure, which has been directed towards the replacement of ageing and obsolete mobile underground mining equipment, would lead to the attainment of forecasts for the financial year ending March 31, 2022.

BNC’s sales rose by eight percent to 1 153 tonnes in the quarter ended June 30, 2021 from 1 067 tonnes in the previous quarter.

The company said the average price of nickel on the London Metal Exchange was US$17 343 per tonne compared to US$12 197 per tonne in the same period last year.