BNC focuses on recovery strategy

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BINDURA Nickel Corporation (BNC) says it has strategically implemented timed measures to ensure that the group ends the 2024 fiscal year in a strong position.
The Victoria Falls Stock Exchange-listed miner’s chairman, Muchadeyi Masunda, said despite the challenging nickel price outlook, it anticipates an improvement in the financial year 2025.
“The average London Metal Exchange nickel prices are expected to trend lower in the third quarter of FY2024, settling at an average of US$18,593 per tonne, due to oversupply in the market,” Masunda said in a statement accompanying the company’s financial results for the half year ended September 30, 2023.
“Despite the challenging nickel price outlook, the company has strategically implemented measures to ensure a return to profitability and cash generation within the foreseeable future.”