Noventa falls short of production targets, trims losses

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Noventa falls short of production targets, trims losses

Mozambique focused miner Noventa said it narrowed annual losses in an ‘extremely difficult year, with performance adversely affected by delays in ramping up production to targeted levels.

Noventa said it produced 143,578 pounds of tantalum concentrate compared to its target of 200,000 pounds.

The group added that it extracted more morganite rough than the previous year but the quality was ‘significantly lower than expected.’

Noventa said it remains focused on securing necessary funding for the hard rock circuit at Marropino and development of Morrua.

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