trending Market Intelligence /marketintelligence/en/news-insights/trending/t3iMLVaCS93czEzYfTJO1A2 content esgSubNav
In This List

Independence sees lower output from Tropicana gold mine in March quarter


Japan M&A By the Numbers: Q4 2023


Infographic: The Big Picture 2024 – Energy Transition Outlook

Case Study

An Oil and Gas Company's Roadmap for Strategic Insights in a Quickly Evolving Regulatory Landscape


Essential IR Insights Newsletter Fall - 2023

Independence sees lower output from Tropicana gold mine in March quarter

Australian miner Independence Group NL witnessed a slump in gold outputfrom its jointly owned Tropicana gold mine in Western Australia during theMarch quarter, according to the April 28 results.

Gold produced slipped to 101,038 ounces during the quarter,from 122,319 ounces in the same quarter of 2015.

Independence's 30% share of production amounted to 30,311 ounces.All-in sustaining costs increased to A$1,067 per ounce during the March quarterfrom A$781 an ounce in the March quarter of 2015.

Independence has revised its expected all-in sustainingcosts for Tropicana for the current financial year to between A$900 per ounceand A$950 per ounce, with costs forecast to be higher during the transitionperiod between the end of grade streaming and the completion of the processingplant expansion project at the mine.

Meanwhile, the Long nickel-copper mine in Western Australia produced1,933 tonnes of nickel and 135 tonnes of copper during the March quarter,compared to 2,737 tonnes of nickel and 196 tonnes of copper a year earlier.

The lower output is due to a previously announced of the Longoperation due to depressed nickel prices.

Independence now expects the mine's nickel production forthis financial year to fall within the range of 8,500 tonnes to 9,000 tonnes.

Quarterly production from the Jaguar zinc-copper mine in Western Australiatotaled 9,680 tonnes of zinc, 1,300 tonnes of copper, 388,240 ounces of silverand 1,163 ounces of gold.

Output from the mine was an increase over the 9,406 tonnesof zinc, 1,123 tonnes of copper, 306,139 ounces of silver and 696 ounces ofgold produced in the same period of 2015.

Independence has also revised its fiscal 2016 productionguidance for the Jaguar mine to between 38,000 tonnes and 40,000 tonnes ofzinc-in-concentrate and between 6,500 tonnes and 7,000 tonnes ofcopper-in-concentrate.

The company said full-year production at Jaguar will benegatively impacted by the delay in the delivery of higher grades.