Canadian gold miner
Nevsun Resources Ltd.
) said that it has produced 48 million pounds of copper in
concentrate last year, reaching the top end of its forecast of 30
million to 50 million pounds. Its shares moved up as much as
roughly 4% following the announcement.
Nevsun produced 92,000 ounces of gold in dore and 20,000
equivalent ounces in precious metals concentrate in 2013. It also
exceeded 15 million hours without a lost time injury during the
For fourth-quarter 2013, Nevsun produced 36 million pounds of
copper in copper concentrate and shipped 32 million pounds of
copper during the quarter. Moreover, it processed 401,000 tons of
ore at 5.1% copper feed grade.
Nevsun also noted that it has completed the copper expansion
project on time and budget. The company attained commercial
production from the copper plant on schedule and mill ramp up is
currently underway. It has achieved annualized production of 190
million pounds of copper at concentrate grade of 32% in Dec 2013.
The newly commissioned plant has showed the capability to meet
production targets for 2014.
Nevsun has a 60% interest in the Bisha mine, which ranks as one
of the highest grade open pit mines in the world. The company,
which currently retains a Zacks Rank #3 (Hold), will report its
full-year 2013 results on Mar 13.
Other companies in the mining industry worth considering include
Tahoe Resources Inc.
Timmins Gold Corp.
Denison Mines Corp.
). While Tahoe Resources holds a Zacks Rank #1 (Strong Buy), both
Timmins Gold and Denison Mines retain a Zacks Rank #2 (Buy).
DENISON MINES (DNN): Free Stock Analysis
NEVSUN RESOURCS (NSU): Free Stock Analysis
TAHOE RESOURCES (TAHO): Free Stock Analysis
TIMMINS GOLD (TGD): Free Stock Analysis
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