Nevsun’s Bisha turns a profit despite falling prices, rising costs

Eritrea-focused miner Nevsun Resources has posted a profit for the three months to September 30, despite lower grades, recoveries and sliding copper prices and despite a 95% year-on-year contraction in net earnings. Net income attributable to shareholders shrunk from $25.5-million in the comparable quarter of 2014, to $2.8-million, or $0.01 a share, in the three months under review.