|By PR Newswire||
|January 9, 2014 07:00 AM EST||
VANCOUVER, Jan. 9, 2014 /PRNewswire/ -
- Exceeded 15 million hours without a lost time injury
- Completed the copper expansion project on-time and under budget
- Achieved commercial production of copper plant on schedule
- Produced 48 million pounds of copper in concentrate against guidance of 30 to 50 million pounds
- Produced 92,000 ounces of gold in dore plus 20,000 equivalent ounces in precious metals concentrate
Q4 2013 HIGHLIGHTS
- Processed 401,000 tonnes of ore at a grade of 5.1% copper
- Produced 36 million pounds of copper in copper concentrate
- Shipped 32 million pounds of copper in copper concentrate
- Achieved 80% metallurgical recovery of contained copper, with 84% in December
- Annualised December production of 190 million pounds of copper at 32% copper in concentrate
Nevsun Resources Ltd. (TSX:NSU) (NYSE MKT:NSU) (Nevsun or the Company) is pleased to announce strong production results of 48 million pounds of copper in the second half of 2013 with 36 million pounds produced in the fourth quarter ended December 31. Total gold production for 2013 was 92,000 ounces in dore and 20,000 equivalent ounces in precious metals concentrate. The copper plant continues to ramp up with December annualised production of 190 million pounds of copper, recovery of 84% and copper concentrate grade of 32%.
A summary of the Company's quarterly and full year operating results follow:
|Q4 2013||Q3 2013||Q2 2013||Q1 2013||2013 Year|
|Ore mined, tonnes 1||533,000||559,000||425,000||475,000||1,992,000|
|Waste mined, tonnes||2,664,000||2,802,000||1,647,000||1,925,000||9,038,000|
|Strip ratio (calculated in BCM's)||10.2||8.5||4.5||5.1||6.7|
|Ore milled, tonnes 2||401,000||366,000||455,000||432,000||1,654,000|
|Copper feed grade, % 3||5.1||2.5||-||-||3.9|
|Gold feed grade, g/t 4||-||-||2.75||4.14||3.43|
|Recovery % of copper 3||79.7||59.5||-||-||73.5|
|Copper in concentrate, mlbs||36.0||12.0||-||-||48.0|
|Recovery % of gold 4||-||-||79.8||79.0||79.4|
|Gold poured in doré, ounces 5||1,500||13,300||34,900||42,300||92,000|
|1||Q4 mining tonnage, all from Bisha Main pit, includes oxide ore (15,000 tonnes), pyrite sand ore (63,000 tonnes), and supergene ore (455,000 tonnes)|
|2||Q4 milling tonnage was all supergene ore unlike Q3 which included mix of pyrite sand mixed and oxide ore followed by supergene ore|
|3||Q4 copper feed grade and recovery for supergene ore only unlike Q3 which included pyrite sands from mid-June to mid-July|
|4||Gold feed grade and recovery for oxide ore only|
|5||Q4 gold poured during final decommissioning of the CIL plant|
Cliff Davis, Nevsun CEO commented, "December demonstrated the capability of the newly commissioned copper plant to meet production expectations in 2014. We look forward to realising significant cash flow in 2014 as we continue to process ultra-high grade supergene ore and look to monetize the various stockpiled precious metal materials."
The mine performed well in the fourth quarter with 3,197,000 tonnes of material moved, close to Q3 rates and significantly higher than Q1 and Q2 where the mine fell behind on waste stripping. Improvements in primary excavator and haul truck availabilities and new equipment have allowed the operation to begin to catch up on waste stripping.
Copper ore feed grades exceeding 6 percent and copper metallurgical recoveries exceeding 80 percent towards the end of the quarter helped underline the continual improvements in the new copper flotation plant. Commercial production has been achieved and mill ramp up and improvements continue.
Nearly 100,000 tonnes of copper concentrate have been produced with over 65,000 tonnes shipped in the fourth quarter. The main focus remains on ensuring land transport keeps up with the copper concentrate production.
Nevsun plans to announce its full year 2013 financial results on March 13, 2014, with a conference call to follow.
Forward Looking Statements
The above contains forward-looking statements or forward-looking information within the meaning of the United States Private Securities Litigation Reform Act of 1995, and applicable Canadian securities laws. Forward-looking statements are frequently, but not always, identified by words such as "expects," "anticipates," "believes," "intends," "estimated," "potential," "possible" and similar expressions, or statements that events, conditions or results "will," "may," "could" or "should" occur or be achieved. Forward-looking statements are statements concerning the Company's current beliefs, plans and expectations about the future regarding the Company's continuing operations in Eritrea including but not limited to future gold and copper production, all of which are inherently uncertain. The actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, the risks that: (i) any of the assumptions in the historical resource estimates turn out to be incorrect, incomplete, or flawed in any respect; (ii) the methodologies and models used to prepare the resource and reserve estimates either underestimate or overestimate the resources or reserves due to hidden or unknown conditions, (iii) exploration activities or the mine operations are disrupted or suspended due to acts of god, internal conflicts in the country of Eritrea, unforeseen government actions or other events; (iv) the Company experiences the loss of key personnel; (v) the Company's operations are adversely affected by other political or military, or terrorist activities; (vi) the Company becomes involved in any material disputes with any of its key business partners, lenders, suppliers or customers; (vii) the Company is subjected to any hostile takeover or other unsolicited attempts to acquire control of the Company; (viii) the Company is subject to any adverse ruling in any of the pending litigation to which it is a party; (ix) the Company incurs unanticipated costs as a result of the transition from the oxide phase of the Bisha mining operations to the copper phase in 2013; * the Company is unable to effectively manage the sulphide rich reactive ground as it affects blasting and continuous ore supply, or (xi) the Company experiences a failure of drilling, processing and mining equipment and other risks are more fully described in the Company's Management Discussion and Analysis for the fiscal year ended December 31, 2012, which is incorporated herein by reference. The Company's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made and the Company assumes no obligation to update such forward-looking statements in the future, except as required by law. For the reasons set forth above, investors should not place undue reliance on the Company's forward-looking statements.
Please see the Company's Annual Information Form for the fiscal year ended December 31, 2012, and the Company's Management Discussion and Analysis for the year ended December 31, 2012, for a more complete discussion of the risk factors associated with our business.
About Nevsun Resources Ltd.
Nevsun Resources Ltd. is a Vancouver-based mining company with an operating mine in Eritrea. Nevsun's 60%-owned Bisha Mine commenced commercial production in February 2011 and ranks as one of the highest grade open pit copper mines in the world.
NEVSUN RESOURCES LTD.
"Cliff T. Davis"
Cliff T. Davis
President & Chief Executive Officer
SOURCE Nevsun Resources Ltd.
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
Apr. 26, 2017 06:00 AM EDT Reads: 547
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
Apr. 26, 2017 05:30 AM EDT Reads: 1,038
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
Apr. 26, 2017 04:45 AM EDT Reads: 2,121
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
Apr. 26, 2017 04:30 AM EDT Reads: 5,273
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Apr. 26, 2017 04:15 AM EDT Reads: 1,056
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Apr. 26, 2017 04:15 AM EDT Reads: 1,216
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
Apr. 26, 2017 04:15 AM EDT Reads: 454
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
Apr. 26, 2017 03:45 AM EDT Reads: 497
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at Dell EMC, introduced a methodology for capturing, enriching and sharing data (and analytics) across the organization...
Apr. 26, 2017 03:15 AM EDT Reads: 6,600
Developers want to create better apps faster. Static clouds are giving way to scalable systems, with dynamic resource allocation and application monitoring. You won't hear that chant from users on any picket line, but helping developers to create better apps faster is the mission of Lee Atchison, principal cloud architect and advocate at New Relic Inc., based in San Francisco. His singular job is to understand and drive the industry in the areas of cloud architecture, microservices, scalability ...
Apr. 26, 2017 03:00 AM EDT Reads: 3,461
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
Apr. 26, 2017 02:45 AM EDT Reads: 1,014
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Apr. 26, 2017 02:30 AM EDT Reads: 1,447
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Apr. 26, 2017 01:45 AM EDT Reads: 1,317
Everyone wants to use containers, but monitoring containers is hard. New ephemeral architecture introduces new challenges in how monitoring tools need to monitor and visualize containers, so your team can make sense of everything. In his session at @DevOpsSummit, David Gildeh, co-founder and CEO of Outlyer, will go through the challenges and show there is light at the end of the tunnel if you use the right tools and understand what you need to be monitoring to successfully use containers in your...
Apr. 26, 2017 01:45 AM EDT Reads: 1,983
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
Apr. 26, 2017 12:45 AM EDT Reads: 1,329