Published: 21 January 2014

Mwana Africa's Nickel production rose 76 percent to 2 651 tonnes at Trojan Mine, a unit of Mwana Africa's 75,4 percent owned Zimbabwe Stock Exchange listed Bindura Nickel Corporation, compared to the same period last year.

Mwana said quarterly revenue at the nickel miner was also 74 percent up to $24,5 million due to the massive jump in sales in the quarter under review.

"All-in sustaining costs cash costs increased from $10 390 per tonne to $11 819 per tonne. This was as a result of the continued production ramp up and the commencement of the shaft re-deepening," Mwana said yesterday.

Things are finally looking up for BNC, which at one point appeared in danger after facing challenges in trying to secure funding for phase two of the restart of the Trojan Mine, but resolved the issue through a revised mining plan targeting ore bodies with high nickel content.

The revised plan resulted in marked decrease in the amount of money required for phase two restart, increased revenues and decreased unit operating costs, which are now evenly spread across high production volumes.

Trojan returned to production, after raising $23 million fresh capital in September 2012, since BNC operations were placed under care and maintenance at the height of Zimbabwe's macro-economic instability in 2008.
- herald

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