Nevsun Extends Life of Bisha Mine

Nevsun Resources (TSX:NSU,NYSEAMERICAN:NSU) announced today (June 14) that, together with its Eritrean partner ENAMCO, Nevsun has approved an extension to the Bisha zinc-copper mine in Eritrea, self-funded by existing cash flows from Bisha.

The open-pit extension adds 3.3 million tonnes of high-grade ore to the mill and extends operations through the full year 2022, resulting in additional payable production of 470 million pounds of zinc and 52 millions pounds of copper over this time frame.

CEO of Nevsun, Peter Kukielski said:

“The Bisha team has been working hard to optimize the mine plan and reduce the operational risk of the deeper ore from the main pit. The investment announced today increases the long-term cashflow from Bisha, reducing requirements for external funding for construction of our high-grade, high-return Timok project in Serbia. The extension of the Bisha mine life, combined with the planned ramp up of the Timok Upper Zone in 2022 and the longer term potential of the Timok Lower Zone, gives us confidence that Nevsun will continue to produce strong operating cash flows for many years to come.”

Click here to read the full Nevsun Resources (TSX:NSU,NYSEAMERICAN:NSU) press release.