TVI Pacific’s Philippines-operating subsidiary TVI Resource Development (TVIRD) has completed its 30th shipment of copper concentrate from Canatuan mine. This shipment contained 5249 tonnes @ 18.4% copper for a sale price of US$10.9 million. It left the Santa Maria port in Siocon, Zamboanga del Norte as specified in the conditions of an offtake agreement between TVIRD and MRI Trading AG.
Production at the Canatuan mine is steady, with copper concentrate grade levels remaining between 18 and 25%. TVIRD says shipments of copper concentrate have been leaving port on schedule every six to eight weeks and there is currently 959 tonnes of concentrate in storage.
The mine is a volcanogenic massive sulphide (VMS) deposit in Zamboanga del Norte province on Mindanao Island. 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.