Nevsun extends life of Bisha mine in Eritrea through 2022

|About: Nevsun Resources Ltd. (NSU)|By:, SA News Editor

Nevsun Resources (NSU -0.1%) says it will extend the life of its Bisha zinc and copper mine in Eritrea to the end of 2022, 18 months later than the planned end of operations announced last year.

NSU says the open-pit extension will add 3.3M metric tons of high-grade ore to the mill, resulting in additional payable production of 470M lbs. of zinc and 52M lbs. of copper, and provides time to advance assessment of the Asheli and Harena underground deposits at Bisha and to consider further open-pit extensions.

NSU owns 60% of Bisha, while the other 40% is held by companies run by the Eritrean government.