BINDURA Nickel Corporation (BNC) has completed a review of the revised mine plan at its Trojan Mine to target the higher grade zones of the ore body following the recent fall in the international nickel price, the company said this week.
BNC, a subsidiary of Mwana Africa Plc, has sold over 1 000 tonnes of nickel since the first concentrate was sold in April 2013 following the restart at Trojan.
“BNC management is already successfully applying the new mine plan at Trojan and is confident that the new plan will significantly improve BNC’s cash flow and reduce its working capital requirements. BNC is in the process of seeking debt finance from Zimbabwean banks for the reduced working capital requirement,” Mwana Africa Plc said in a statement this week.
“The Trojan mine plan has been revised to target the higher grade zones of the ore body, known as ‘massives’, following the recent fall in the nickel price. The occurrence of the ‘massives’ enables higher grade ore to be mined and thus reduces the cost per tonne of nickel produced.”
BNC needs to raise further funding for the second phase of the restart of Trojan Mine after the group successfully raised US$23 million for restart of the mine last year.
As part of restructuring efforts, the company made 1 000 jobs redundant. BNC also refurbished the milling section, which was concluded in February this year.