trending Market Intelligence /marketintelligence/en/news-insights/trending/roxYtriiPVm5_zJf5zULXw2 content esgSubNav
In This List

Independence Group exceeds fiscal H1'20 output guidance at Nova, Tropicana mines


Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion


Insight Weekly: US bank M&A; low refinancing eases rates impact; Texas crypto mining booms


Insight Weekly: US stocks hit grim milestone; top European banks tumble; TMT IPOs plunge


Gold and Copper Summit 2022: Overview of Global Gold Markets in 2022 and Beyond

Independence Group exceeds fiscal H1'20 output guidance at Nova, Tropicana mines

Independence Group NL said Jan. 8 that its preliminary production estimate for the first half of fiscal year 2020 at its Nova and Tropicana mines in Western Australia exceeded its pro rata guidance.

At the Nova mine, the upper ends of its half-year targets of 15,000 tonnes of nickel, 6,250 tonnes of copper and 475 tonnes of cobalt were surpassed with estimated production of 15,236 tonnes of nickel, 6,779 tonnes of copper and 561 tonnes of cobalt.

In the second quarter, output at Nova totaled 7,513 tonnes of nickel, 3,289 tonnes of copper, and 279 tonnes of cobalt. During this period, the miner began receiving power supply via a hybrid solar-diesel plant supplied by Zenith Energy Ltd.

Estimated gold production at the Tropicana mine, on a 100% basis, totaled 257,252 ounces, more than the upper end of its guidance of 250,000 ounces. Gold sales totaled 77,550 ounces, above the upper end of the stated guidance of 75,000 ounces.

Meanwhile, the miner does not expect any material impact in the third quarter of its fiscal 2020 resulting from the recent significant bushfires in the Shires of Dundas and Esperance, which has affected local communities and disrupted supplies into Western Australia.

In December 2019, Independence Group said it will allow its takeover offer for Panoramic Resources Ltd. to lapse Jan. 17.