TVI Pacific’s Philippines-based affiliate TVI Resource Development (TVIRD) has completed the 26th shipment of copper concentrate from its Canatuan mine.
The 4463 tonnes of dry copper concentrate, containing 22.7% copper left the Santa Maria port in Siocon, Zamboanga del Norte on December 27, 2011, earning US$11.1 million for the company. TVIRD says 678.8 tonnes of dry copper concentrate remains in storage.
Production remains steady at the Canatuan mine, achieving copper concentrate grade levels between 22-25% and zinc concentrate grade levels between 50-55%. It is anticipated that future shipments of copper concentrate will continue every six to eight weeks.
The mine is a volcanogenic massive sulphide (VMS) deposit in the 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.