http://www.nevsun.com/news/2015/march30/2015 Press Releases
*March 30, 2015*
Nevsun Announces Successful Bisha Plant Restart and Maintains Guidance
Nevsun Resources Ltd <
http://www.nevsun.com/investors/>. (TSX:NSU) (NYSE
MKT: NSU) (Nevsun or the Company) reports that the Bisha processing plant
successfully restarted on March 26 after completion of both the ball mill
and the tailings thickener repairs. The processing plant had been offline
since the March 13, 2015, announcement when the ball mill gear box
mechanical issue was discovered during routine maintenance.
The Company advises that the investigation by Eritrean authorities into the
incident at the mine site a week ago continues. Employee and site safety
and security are always of utmost importance and the Company has arranged
for increased security in and around the mine site. There have been no
further incidents.
During the temporary shutdown the mine also took the opportunity, through
its third party thermal energy provider Aggreko, to accelerate the upgrade
of another ten of its twenty seven diesel generators with newer more
efficient units. In addition, the mine was able to focus on waste mining
and accelerate some other preventative maintenance that was scheduled for
later in 2015. The Company maintains its 2015 annual production guidance to
produce between 160 and 175 million pounds of copper at C1 cash cost of
$1.20 to $1.40 per pound.
*About Nevsun Resources Ltd.*
<
http://nevsun.com/investors/>Nevsun Resources Ltd.
<
http://nevsun.com/investors/> is a Vancouver-based mining company with an
operating mine in Eritrea. Nevsun’s 60%-owned Bisha Mine ranks as one of
the highest grade open pit copper mines in the world. Nevsun has a strong
balance sheet and future cash flows to grow shareholder value through
exploration at Bisha and acquisition of additional mining assets.
*NEVSUN RESOURCES LTD.*
Cliff T. Davis
President & Chief Executive Officer
*For further information, Contact:*
Kin Communications
Tel: 604 684 6730
Toll free: 1 866 684 6730
Email: NSU_at_kincommunications.com
Website: www.nevsun.com
*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 current beliefs, plans and expectations about the future
including but not limited to commercial production, future production of
copper and related cash flows and are 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 or exploration activities 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, 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; (ix) the Company incurs
unanticipated power interruptions or failures due to electrical circuit
failures or other repairs to the plant or inadequate fuel quality required
to effectively operate power generators for the plant or otherwise, (x) the
Company experiences shipping delays for equipment or replacement parts that
are required to complete repairs at the copper plant that could impact
mining operations; or (xi) 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 Annual Information Form for the fiscal year
ended December 31, 2014, 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.*
*Further information concerning risks and uncertainties associated with
these forward-looking statements and our business can be found in our
Annual Information Form for the year ended December 31, 2014, which is
available on the Company’s website (**www.nevsun.com*
<
http://www.nevsun.com/>*), filed under our profile on SEDAR (**www.sedar.com
<
http://www.sedar.com>**) and on EDGAR (**www.sec.gov <
http://www.sec.gov>**)
under cover of Form 40-F. I'm *
Received on Mon Mar 30 2015 - 09:46:19 EDT