TVI Pacific’s Filipino subsidiary TVI Resource Development (TVIRD) has dispatched its 31st shipment of copper concentrate from its Canatuan mine. The latest 5026 tonne shipment will bring in gross revenue of US$10.5 million, and leaves 1168 tonnes of copper concentrate in storage.
The 31st shipment left the port of Santa Maria in Siocon, Zamboanga del Norte, in accordance with the offtake arrangement between TVIRD and MRI Trading AG (MRI) on September 29.
Production remains steady at Canatuan, achieving copper concentrate grade levels between 18% and 25%. TVIRD anticipates that future shipments of copper concentrate will continue every six to eight weeks.
The mine is a volcanogenic massive sulphide (VMS) deposit in Zamboanga del Norte province on Mindanao. The company began shipping copper concentrate in 2009 once the upper ore body of the deposit was mined out exposing the sulphide portion containing copper and zinc.
The first zinc concentrate was shipped from the mine in July 2011. The company’s zinc production is lower than the copper production due to the higher grade of the zinc concentrate. Copper concentrate shipments occur every six to eight weeks, while zinc concentrate orders leave every four to six months.