Independence Group exceeds Nova production forecast

Independence Group (IGO) has beat its 2019 financial year production guidance at the Nova nickel-copper operation in Western Australia after delivering a record March quarter.

Nova produced 30,708 tonnes of nickel and 13,693 tonnes of copper to eclipse the 27,000 to 30,000 tonnes and 11,000 to 12,500 guidance range.

Ongoing optimisation at Nova has delivered nickel production rates that have exceeded the averages determined in the feasibility study for each of the last five quarters, according to IGO managing director Peter Bradford.

The positive performance underpins IGO’s potential downstream processing opportunity to produce battery grade nickel sulphate at Nova.

IGO’s production at the Tropicana joint venture (JV) gold operation in Western Australia (totalling 518,172 ounces) was also within its 2019 guidance range of 500,000 to 550,000 ounces.

“The better than guidance production performance at Nova and on guidance production from Tropicana for the 2019 financial year reflects the quality of our assets, and more importantly, the consistent high performance by our world class operating team at Nova and the JV team at Tropicana,” Bradford said.

AngloGold Ashanti, the majority owner and operator of Tropicana, delivered “another solid year of production”, achieving a yearly processing rate in excess of eight million tonnes a year.

The JV also launched development of the Boston Shaker underground mine, which is due to produce first gold in the September 2020 quarter.

Bradford coined it “exciting times” at IGO, saying: “We look forward to these work programs producing further value creation for all stakeholders into the future.”

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