Tropicana ahead of schedule, says Independence Group
The Tropicana gold joint venture between AngloGold Ashanti and junior Independence Group is ahead of schedule, with commissioning expected during the September quarter. Ramp-up is still scheduled for the December quarter.
Independence reported last week that plant construction reached 93% completion during the three months to June, while the mining and stockpiling of ore from the Havana starter pit continued.
At approval, the Tropicana project had a mine life of ten years, with recent exploration success extending this to more than 11 years. The project currently has a mineral resource of 118-million tons, grading 1.08 g/t for 7.89-million ounces of gold.
Independence, which holds a 30% interest in the mine, noted that the estimated capital expen- diture for the project remained on track at between A$820-million and A$845-million.
A recent review of the projected cash operating costs has maintained the forecast at between A$590/oz and A$630/oz over the first three years of production, with the mine expected to deliver between 470 000 oz/y and 490 000 oz/y over this period.
Meanwhile, Independence also reported last week that its Long nickel mine, in Western Australia, had achieved record yearly production during 2013, with the 11 180 t of nickel exceeding the guidance by 16%.
Its Jaguar copper/zinc/silver mine also delivered record quarterly mill throughput during the three months to June and record concentrate production for the full year.
Jaguar delivered 33 809 t of zinc, 4 992 t of copper and more than 1.37-million ounces of gold.
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