Tropicana delivers in first production year
PERTH (miningweekly.com) – The Tropicana joint venture (JV), in Western Australia, was performing to expectations, 30%-owner Independence Group reported on Thursday.
The gold mine, in which South Africa's AngloGold Ashanti owns a majority stake, poured its first gold in September and produced 95 050 oz during 2013.
The JV initially set a production guidance of between 120 000 oz and 160 000 oz for the 2013 calendar year, but Independence has previously warned that this would not be reached, as first gold pour had taken place later than expected.
The ASX-listed miner said that the plant commissioning and ramp-up at Tropicana was tracking as forecast, and full ramp-up would likely be achieved in the March quarter.
Meanwhile, Independence reported that, at the Long nickel operation, also in Western Australia, production declined slightly compared with the previous quarter, with the mine producing 2 737 t of contained nickel.
While down on the previous quarter, nickel production at the Long operation was 26% higher than expectations, owing to a 19% increase in ore tonnes and a slightly higher run-of-mine grade during the quarter.
At the Jaguar zinc/copper operation, Independence produced 17 767 t of zinc concentrate and 7 625 t of copper concentrate, which compared with the 23 156 t of zinc and 6 711 t of copper produced in the previous quarter.
The miner on Thursday also announced that it had signed a letter of agreement with ASX-listed junior Alchemy Resources to explore the Bryah Basin base metals and gold project.
The agreement covered all commodities, excluding iron-ore, and would see Independence earn up to an 80% shareholding in all the minerals by sole funding some A$6.5-million on exploration over the next six years.
The project currently has an indicated resource of 300 000 oz of gold.
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