PERTH (miningweekly.com) – Metals miner Independence Group has reported a 65% jump in revenue for the half-year ended December, as the Tropicana joint venture   (JV) gold mine, in Western Australia, reported its first interim period of production.

Revenue for the first half of 2015 increased to A$274.3-million, compared with A$166.7-million in the previous corresponding period, while profit for the same period was up 264% to A$49.5-million with improved contributions from the Long and Jaguar operations.

Operating cash flows were also up by 175% during the period under review, reaching A$113.9-million.

“We are very satisfied with the increased revenue, profit after tax and operating cash flows being generated by each of our three operations,” Independence MD Peter Bradford said on Wednesday.

The Long nickel mine produced 5 123 t of contained nickel during the half year, while the Jaguar mine delivered 25 373 t of contained zinc and a further 4 807 t of contained copper.

The Tropicana JV with AngloGold Ashanti delivered 77 248 oz of gold to the Independence bottom line.

Following the restart of the Jaguar mill, Independence has revised its full-year production guidance upward across all of its operations, while costs at Long and Jaguar have been lowered.

“Tropicana, Long and Jaguar are all currently ahead of the production and cost guidance for the year-to-date on an annualised basis. Based on current production and cost projections, the company believes the revised 2015 guidance provides realistic targets for each operation,” said Bradford.

The Jaguar mine was expected to deliver between 44 000 t and 48 000 t of zinc-in-concentrate and a further 7 000 t to 8 000 t of copper-in-concentrate, while the Long mine was expected to deliver between 9 500 t and 10 500 t of nickel.

The Tropicana project would reach a full output of between 480 000 oz and 510 000 oz during the 2015 financial, with Independence’s share amounting to between 144 000 oz and 153 000 oz.