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NSU.page
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Nevsun Resources is a Canadian mining company. It operates two mines: the Bisha Mine in Eritrea (copper-zinc), and the Timok Project in Serbia (copper-gold). Nevsun is involved in various mining exploration projects.
Nevsun is listed on both the Toronto Stock Exchange (TSU) and NYSE as `NSU`.
# Bisha Mine
<img style="float: right;" src="/bisha-reserves.jpg" width="250" />
Bisha is a high-grade volcanogenic massive sulphide (VMS) deposit in Eritrea. The mine was constructed between 2008 and 2010. The mine produced gold-silver doré until 2013, when it was converted into a copper mine. In June 2016, the mine began producing Zinc as well.
According to the company, Bisha remains largely unexplored and has strong potential for discovery of additional mineral deposits.
According to company projections, the Bisha mine is scheduled to be operational through 2024.
## Reserves
The following shows the measured and probable reserves as of 2015.
**Measured**
| Zone | Tonnes | Copper (%) | Zinc (%) | Silver (Oz) | Gold (Oz) |
|-|--------|--------|------|--------|------|
| Oxide | 10 | | | 40 | 8.4 |
| Supergene | 30 | 2.97 | | 30 | 0.6 |
| Boundry | 10 | 5.57 | 1.24 | 54 | 0.6 |
| Primary | 1250 | 1.02 | 6.62 | 42 | 0.8 |
**Indicated**
| Zone | Tonnes (000s) | Copper (%) | Zinc (%) | Silver (g/t) | Gold (g/t) |
|-|--------|--------|------|--------|------|
| Supergene | 1130 | 1.45 | | 10 | 0.3 |
| Boundry | 60 | 1.34 | 1.85 | 24 | 0.5 |
| Primary | 32,485 | 1 | 4.24 | 33 | 0.5 |
* [2015 Reserve Estimates](http://www.nevsun.com/projects/bisha-main/rr-table--2015.pdf)
## Political Stability
<img style="float: right;" src="/eritrea-map.jpg" width="250" />
Eritrea is an unstable country which presents various risks for business operations. The country owns 40% of the Bisha mine through the Eritrean National Mining Company (ENAMCO).
Eritrea gained independence in 1993. The country has a poor record with regard to human rights, and is currently subject to an arms embargo which is enforced by the UN. It is one of the world's poorest nations.
The religious demographics in the country are 50% muslim and 50% christian.
## Infrastructure
The country operates a large port on the Red Sea in Massawa. It is accessible through regular commercial flights from Cairo, Istanbul, and Dubai.
The country has paved roads between Asmara and Massawa.
# Timok Project
The Timok copper-gold project is divided into two zones (upper and lower). Nevsun owns 100% of the upper zone, and shares ownership of the lower zone with Freeport-McMoRan Exploration Corporation (Freeport).
## Upper Zone
## Lower Zone
Nevsun currently owns about 60% of the lower zone. Nevsun is currently conducting a feasibility study on the lower zone. Upon completion, Nevsun will own 46% of the lower zone.
# Exploration