Tropicana ahead of schedule - Independence Group
PERTH (miningweekly.com) – The Tropicana gold joint venture between AngloGold Ashanti and junior Independence Group was ahead of schedule, with commissioning expected during the September quarter.
Ramp-up was still scheduled for the December quarter.
Independence reported on Wednesday 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 expenditure 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 on Wednesday that its Long nickel mine, in Western Australia, had achieve 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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