TVI Pacific’s Philippine subsidiary TVI Resource Development (TVIRD) has successfully completed its fifth shipment of zinc concentrate from the Canatuan mine. The load totalled 4470 tonnes of zinc concentrate @ 47.4% zinc, for a payment of US$3.8 million by MRI Trading AG.
TVIRD says the shipment left the port of Santa Maria in Siocon, Zamboanga del Norte on December 19 in accordance with its off-take agreement with MRI.
The company says production at Canatuan remains steady, achieving copper concentrate levels of between 17 and 20% and zinc concentrate grades of between 47 and 55%. The next zinc concentrate shipment is expected to be completed by June.
The Canatuan 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.