HARARE – Integrated nickel mining and smelting company Bindura Nickel Corporation (BNC) invested US$1, 4 million in capital projects meant to show up production and efficiency in the six months ended 30 September 2020.
The mining concern confirmed the investment in its half year financial statement which also saw nickel production remaining constant in the period under review compared to the same period in the previous year.
Despite production remaining constant, the investment in capital projects is a sign that the mining concern is targeting expansion particularly at a time Government is on a drive to shore up mineral exports to US$12 billion by 2023 up from US$2, 7 billion in 2017.
The capital projects which were undertaken in the period under review include shaft re-deepening which gobbled US$300 000, another US$300 000 was spent on rock winder upgrade, ramp development which was executed at a cost of US$400 000 and cone crusher which was done at a cost of US$400 000.
Board Chairman Muchadeyi Masunda also advised shareholders that the period saw the mining of 207 747 tonnes of ore compared to 215 338 tonnes in the previous year.
The miner is also planning to take advantage of its huge in-situ resource and expand production to 10 000 tonnes per year from 2025.
“Leveraging on above-mentioned huge in-situ Nickel resources under its portfolio, BNC aims to produce 10 000 tonnes of nickel per annum by FY2025,” said Mr Masunda. – Herald