Canada-based Noranda Income Fund’s (NIF) expansion projects will increase the Processing Facility’s zinc production by approximately 20,000mt to 280,000-290,000mt annually.
Construction work commenced in Q3 (September quarter) and commissioning is scheduled for Q1 of 2022, according to the company statement.
The company is also focusing on increasing the cooling capacity of electrolyte in the cell house where zinc is plated, with the installation of two additional cooling towers.
The evolving nature of COVID-19 has made it difficult to assess the significance of its impact. COVID-19 may or may not affect the progress of the expansion projects, noted the company. To tackle travel restrictions and closures due to the pandemic, the NIF has put in place several contingency plans to minimize the impact to operations, the company said.
Noranda Income Fund announced that it has received an additional advance payment of $12mn as per the terms of the senior secured zinc stream agreement between its wholly-owned subsidiary, Noranda Income Limited Partnership, and leading base metals focused streaming and royalty company BaseCore Metals LP, following the completion of an expansion project construction milestone.