Bindura Nickel Corporation (BNC) in Zimbabwe will need US$ 26.5m to revive its smelting plant next year, which will see the company save about US$ 9m annually in transport and logistical costs.
BNC technical director Mr. Thomas Mashungupa confirmed this and said that the re-opening of the smelter is going to lessen the number of trucks that transport nickel concentrate to South Africa, from 12 trucks per day to one truck per day.
Mr. Mashungupa also pointed out that this initiative is going to boost revenue in the country because the company’s capacity to eliminate penalties on toxic minerals found within nickel concentrate will be enhanced.
According to reports, the project has already been approved by the shareholders, with US$ 26.5m financing required. Part of the funding will come from the money generated by the company and the remainder will be raised through debt.
The smelter is anticipated to be in operation in the first half of 2015.