BNC Revenue Down U.S.$3.3 Million Amid Sales Volume Decline
January 6, 2021
Bindura Nickel Corporation (BNC) revenue has gone down by US$3.3 million on the backdrop of reduced sales volumes owing to internal strategic arrangements.
In a recent update for the half year period ended September 30 2020, BNC board chairperson, Muchadeyi Masunda attributed the decline to temporary stoppage in dispatches to the market and new marketing arrangements which were put in place following the termination of the Glencore Off-take Agreement.
“The turnover for the period of US$25.0 million was 12% lower than the US$28.3 million realised in the comparative period last year. The London Metal Exchange (LME) nickel price averaged US$13 214 per tonne, compared to US$13 927 per tonne achieved in the prior year,” he said.
By Alois Vinga
BINDURA Nickel Corporation (BNC) revenue has gone down by US$3.3 million on the backdrop of reduced sales volumes owing to internal strategic arrangements.
In a recent update for the half year period ended September 30 2020, BNC board chairperson, Muchadeyi Masunda attributed the decline to temporary stoppage in dispatches to the market and new marketing arrangements which were put in place following the termination of the Glencore Off-take Agreement.
“The turnover for the period of US$25.0 million was 12% lower than the US$28.3 million realised in the comparative period last year. The London Metal Exchange (LME) nickel price averaged US$13 214 per tonne, compared to US$13 927 per tonne achieved in the prior year,” he said.