First ocean shipment of copper concentrate completed
11,000 tonnes copper concentrate shipped
Copper commercial production remains on-track for late 2013 or early Q1
VANCOUVER, Oct. 15, 2013 /CNW/ - Nevsun Resources Ltd. (TSX:NSU) (NYSE MKT:NSU) is pleased to announce the first shipment of
11,000 tonnes of pre-commercial production copper concentrate from the
new Bisha copper plant. Commissioning and ramp up in mill throughput
continues with commercial production on track for late 2013 or Q1 2014.
Cliff Davis, Nevsun CEO commented, "We are very pleased to see our first
copper shipment from the docks at Massawa. We are especially thankful
for the full support of our partner, the Eritrean National Mining
Corporation, and the port authorities in Eritrea who have helped
tremendously in making this happen. The modern facilities, including
the environmentally friendly Rotainer loading system worked very well
indeed and we are ready for the next shipment later this month."
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 plans for the shipment of copper
concentrate, which is 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; or (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; * are
associated with the speculative nature of exploration activities,
periodic interruptions to exploration, failure of drilling, processing
and mining equipment, the interpretation of drill results and the
estimation of mineral resources and reserves, changes to exploration
and project plans and parameters 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. 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 has a
strong balance sheet to grow shareholder value through exploration at
Bisha and acquisition of additional mining assets.
NEVSUN RESOURCES LTD.
"Cliff T. Davis"
Cliff T. Davis
President & Chief Executive Officer
SOURCE: Nevsun Resources Ltd.
For further information:
Tel: 604 684 6730
Toll free: 1 866 684 6730