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Independence reports strong quarter from WA mines

28th October 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Multicommodity miner Independence Group has reported a strong performance quarter across its operations, with nickel production exceeding expectations in the September quarter.

The ASX-listed company reported on Monday that its Long nickel operations, in Western Australia, had produced 73 431 t of ore, at 4.1% nickel, for 2 991 t of contained nickel during the three months under review.

This was 16% higher than the production guidance, and resulted from an increase in the volume of ore mined.

The Long operation was expected to produce between 230 000 t and 270 000 t of ore during the full year, delivering between 9 000 t and 10 000 t of contained nickel.

At its Jaguar copper/zinc operation, also in Western Australia, Independence delivered 107 056 t of ore, at 1.7% copper, 10.5% zinc, 135 g/t silver and 0.8 g/t gold. The processing plant treated 117 411 t of ore to produce 6 711 t of copper in concentrate and 23 156 t of zinc in concentrate.

Independence noted that for the full 2014 financial year, the Jaguar operation was expected to produce between 420 000 t and 460 000 t of ore, generating between 5 000 t and 6 000 t of copper in concentrate and between 43 000 t and 45 000 t of zinc metal, as well as between 900 000 oz and 1.1-million ounces of silver in concentrate.

During the quarter under review, Independence and its joint venture partner AngloGold Ashanti, also reported the first gold pour at the Tropicana gold mine, in Western Australia.

With the first gold pour being slightly later than planned, the gold production from Tropicana for the three months to December was anticipated to be at the lower end of the guidance.

A target of between 120 000 oz and 160 000 oz has been set for the 2013 calendar year.

Meanwhile, a prefeasibility study on the Havana Deeps project was also scheduled for completion by the end of the December quarter, to evaluate the further underground development of the Tropicana operation.

Edited by Creamer Media Reporter

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