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Bindura Nickel Corp (BNC)

Full name:
Bindura Nickel Corporation (BNC)
Mwana interest:
Mwana Africa Holdings (Pty) Limited acquired a controlling interest (53%) in BNC from Anglo American Corporation of Zimbabwe in 2003. BNC is listed on the Zimbabwean Stock Exchange.
Assets and operations:
The company owns and operates the Shangani and Trojan nickel mines, which have hoisting and treatment capacity of 1.0Mt and 1.1Mt a year respectively.
Construction of an upgraded concentrator at Trojan, designed to improve nickel recovery and reduce the talk content of the concentrate, was completed in February 2008. Other projects include the redeepening of the Trojan shaft, and construction of a conveyor decline at Shangani.
The Bindura Smelter and Refinery complex produces high quality nickel cathodes, copper sulphide and cobalt hydroxide. Alongside material from the Trojan and Shangani mines, the plant has toll treated nickel concentrates and nickel matte from third parties to utilise spare capacity. Current smelter capacity is 17,000tpa and for the refinery 14,500tpa.
Construction of an oxygen injection plant was completed in 2008.
Current status and prospects:
The Shangani and Trojan mines and the Bindura Smelter and Refinery complex were placed on care and maintenance in November 2008 as a result of continued production difficulties and a sharp decline in the price of nickel. As part of the care and maintenance programme, further expenditure on capital projects has been put on hold.
Following an improvement in commodity prices and changes in Zimbabwe mining regulations, Mwana and BNC, working with BNC’s stakeholders, are developing options for a new business model at BNC that may result in a lower cost of supply from BNC’s mines while maintaining BNC’s smelting and refining capacity, and are investigating the availability of external funding for any additional investment that may be required.

Reserves and Resources

Bindura Nickel Corporation - Resources and Reserves as at 31 March 2009
Classification of ResourcesTonnage (000t)Grade (%)Nickel (t)
Measured   
Trojan2,5600.9323,710
Shangani8700.423,690
Hunter's Road
Total3,4300.8027,400
    
Indicated   
Trojan3,6401.9370,230
Shangani6,0300.4728,130
Hunter's Road45,0600.54243,230
Total54,7300.62341,590
    
Measured & Indicated   
Trojan6,2001.5293,940
Shangani6,9000.4631,820
Hunter's Road45,0600.54243,230
Total March 200958,1600.63368,990
Total March 200816,0200.88141,050
    
Inferred Resources   
Trojan7,9400.7257,410
Shangani4,8500.5325,540
Hunter's Road
Total 12,7900.6582,950
Total March 200813,1800.6484,850

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