New phase of nickel production increase in IGO:Nova Kicks fiscal year 2019

Published: Jul 5, 2019 15:00

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SMM7, March 5: recently, according to foreign media reports, Independence Group is proud to show that its current Nova nickel and copper assets have exceeded the production guidance for fiscal year 2019. It is reported that the project is located in Western Australia, with production guidance of 27000 to 30000 tons of nickel, 11000 to 12500 tons of copper and 850 to 950 tons of cobalt in fiscal year 2019. According to the company's estimates, the initial production of Nova is estimated at 30708 tons of nickel, 13693 tons of copper and 1090 tons of cobalt.

Peter Bradford, Managing Director and Chief Executive Officer of IGO, said in a statement, "strong operational discipline and new continuous optimizations have enabled nickel productivity to exceed the average productivity identified in each quarterly feasibility study for the past five quarters. As capital development and grade control drilling are largely completed during fiscal year 2019, Nova will continue to deliver strong results. "

In a report released on Thursday, Bradford also said that the impressive operational performance of Nova and Tropicana supported our growth strategy, which remained focused on exploration and discovery and potential downstream processing opportunities for producing battery-grade nickel sulfate from Nova concentrate.

In the last quarter, Nova produced 8375 tons of nickel and 3731 tons of copper, breaking the company's record, which increased the company's quarterly revenue to A $232.8 million, as Nova's revenue increased by 52 per cent, driven by growth in nickel and copper sales.

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