BINDURA Nickel Corporation (BNC) says its capital expenditure increased by US$1,8 million to US$8,3 million during the year ended March 31, 2023, driven by a programme to replace old and unreliable underground mining equipment.
The Victoria Falls Stock Exchange-listed miner said the capital expenditure was being funded from bank loans and internal cash flows.
The chairman of BNC, Muchadeyi Masunda, said during the year the mine was adversely affected by less than satisfactory availability of underground mining mobile equipment due to obsolescence.
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Muchadeyi Masunda, BNC chairman
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