The 33rd shipment of copper concentrate containing 4419 tonnes @ 18.01% copper has been shipped by TVI Pacific’s affiliate TVI Resource Development (TVIRD) to MRI Trading AG. The concentrate was produced at the company’s Canatuan mine and left the port of Santa Maria in Siocon, Zamboanga del Norte on December 13.
This is the fourth shipment made to MRI since July 2012 under an offtake agreement between the two companies. TVIRD says now the US$10 million shipment has been completed, there is 389 tonnes of copper concentrate remaining in inventory.
Production remains steady at Canatuan, achieving copper concentrate grade levels between 17% and 20%. TVIRD anticipates that future shipments of copper concentrate will continue approximately every six to eight weeks.
Canatuan is a volcanogenic massive sulphide (VMS) deposit in the Zamboanga del Norte province on Mindanao. TVIRD 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.