Bisha Main | Overview
Project Overview
The Bisha Project is a large precious and base metal-rich volcanogenic massive sulphide (VMS) deposit located 150km west of Asmara, Eritrea, East Africa. Deposit mineralization consists of gold and silver oxides, in addition to copper and zinc massive sulphides. The project benefits from the strong support of the Government of Eritrea and good local road and port infrastructure.
The Bisha Mine began construction in September 2008 and declared commercial production in February 2011. The mine is a low-cost gold producer for the first two years, and a high-grade copper concentrate and zinc producer for the remaining mine life. View Resource and Reserves.
After depletion from 2011, the estimated payable production remaining is 0.43 million ounces of gold, 11.5 million ounces of silver, 821 million pounds of copper and 1.4 billion pounds of zinc.
Bisha's mining and exploration licenses cover a contiguous area of 92 km2. The Bisha Main and North West zone are both located within the 16.5 km2 mining license. Within the exploration license there is a satellite deposit, Harena and several other geophysical anomalies that have yet to be tested. Nevsun, through its Eritrean subsidiary, Bisha Mining Share Company (BMSC), holds the Licenses.
The State of Eritrea has a free carried 10% interest plus an additional 30% paid participating interest for a total of 40% interest in Bisha. The interest will be paid over time, out of Bisha cash distributions. For more information see our most recent Financial Statements and MD&A.
Commercial Production Schedule
Per March 2011 Technical Report. For 2012 oxide gold production guidance, click here.
| Year |
|
|||||||||||||
| Supergene Sulphides | Primary Sulphides | |||||||||||||
| Gold | 120,000 oz | 127,000 oz | ||||||||||||
| Silver | 3,860,000 oz | 7,166,000 oz | ||||||||||||
| Copper | 538,000,000 lbs | 283,000,000 lbs | ||||||||||||
| Zinc | - | 1,373,000,000 lbs | ||||||||||||
Note: table above is payable production over the time period indicated. Bisha supergene copper phase is in construction and copper concentrate production is expected in mid-2013. The primary phase expands the plant yet again, adding zinc concentrate production in addition to copper.
Bisha Main Project Milestones
8 years from Discovery to Production
| January 2003 | Discovery |
| October 2006 | Feasibility Study |
| December 2006 | Social and Environmental Impact Assessment |
| June 2007 | EPCM contractor selected (SENET), engineering commenced |
| October 2007 | State participation agreed (10% free carried + 30% interest to be purchased at fair value by Eritrean National Mining Company |
| December 2007 | Mining and stabilization agreements completed with Eritrean Government |
| January 2008 | Mining license granted |
| February 2008 | Orders placed for critical equipment |
| August 2008 | SENET mobilized to site and site clearing and heavy earth moving started |
| December 2009 | Mills delivered |
| March 2010 | Ball and Sag Mill assembled and set in place Pre-Strip mining commenced |
| April 2010 | Installation of the liner in the tailings management facility commenced |
| June 2010 | Completion of structural steel and plate-work |
| October 2010 | Plant Commissioning initiated, Power Plant commissioned |
| December 2010 | First Gold Pour |
| February 2011 | Commercial Production Declared; on time and under budget |
