ZAMBOANGA DEL NORTE – The Philippine affiliate of Canadian miner TVI Pacific Inc. expects a higher rate of shipment of copper concentrates in the coming months as production stream at the Canatuan mine remains stable.
In an statement posted in its website, TVI Pacific said that its Philippine operating affiliate, TVI Resources Development (Phils.) Inc., expects that future shipments of copper concentrate will continue every six weeks to eight weeks, while zinc concentrate will occur every four months to six months.
TVI Pacific said that production remains stable at the Canatuan mine, achieving copper concentrate grade levels between 18 to 25 percent, while zinc concentrate grade levels between 49 to 55 percent.
In June, TVIRD completed its fourth shipment of zinc concentrate with a total volume of 5,602 dry metric tons containing 49.43 percent zinc, and its 29th shipment of copper concentrate weighing 5,015 DMT containing 18.7 percent copper.
The company said that gross revenues from both shipments, in accordance with the off-take arrangement between TVIRD and MRI Trading AG, reached $14.7 million.
“Inventory of 993 DMT of copper concentrate and 3 DMT of zinc concentrate is currently in storage,” the company.
TVI Pacific Inc. is a publicly-traded Canadian company focused on the production, development, exploration and acquisition of resource projects in the Philippines.
It produces copper and zinc concentrates from its Canatuan mine, is pre-developing its Balabag gold and silver project, and is carrying out exploration programs on its other North Zamboanga tenements. TVI also has an interest in an offshore Philippine oil area.
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