Nevsun Resources notes that the 10 000 t lot was loaded at the Port of Massawa and sailed on 7 September 2016 and its concentrate was sold on the spot market, attracting multiple offers and highly competitive treatment charges.
The Bisha mine completed the zinc flotation plant expansion earlier in 2016 on-time and under-budget.
The plant allows Bisha to produce separate copper and zinc concentrates simultaneously from processing primary ore from the Bisha open pit mine.
Cliff Davis, Nevsun CEO comments: “We are pleased to have a high quality zinc product coming to market in an environment of rising zinc prices.
“Bisha is the only significant new zinc concentrate coming to market in 2016 and we are being aggressively courted for offtake by various customers,” says Davis.
“We would like to congratulate our partner, the State of Eritrea, for adding another export product to the economy and thank them for their support,” Davis concludes.
Nevsun is scheduled to load additional shipments in the coming weeks and is ramping up to commercial production which is forecast for Q4 2016.
Overview of Nevsun Resources
Nevsun Resources is the 60% owner of the high grade Bisha Mine in Eritrea.
Bisha has nine years of reserve life, generating revenue from both copper and zinc concentrates containing gold and silver by-products.
Nevsun has a strong balance sheet, no debt and pays a peer leading quarterly dividend.
The company is well positioned to grow shareholder value through exploration at Bisha and the newly acquired Serbian assets that include the high-grade copper-gold Timok project.