Independence Group has officially opened its Nova nickel-copper mine in the Fraser Range, making it the company’s fourth producing operation.
Independence Group has officially opened its Nova nickel-copper mine in the Fraser Range, making it the company’s fourth producing operation.
Perth-based Independence took ownership of the Nova operation in 2015 through its acquisition of Sirius Resources for $1.8 billion.
Since then, the miner has invested $456 million in construction and development work at Nova to bring it online as Independence’s fourth producing asset, alongside its Jaguar, Long and Tropicana mines.
Nova is expected to produce between 23,000 and 27,000 tonnes of nickel, along with between 10,000 and 12,000t of copper and up to 1,050t of cobalt.
At a cash cost of between $1.90 and $2.50/lb, the operation is expected to be Australia’s lowest-cost nickel mine.
“Today, Nova is our flagship asset and represents the type of operation that Independence wants in its portfolio – a quality asset that is high margin, with scale and a long mining life, which anchors our presence in the Fraser Range where we are actively exploring to find the next Nova,” managing director Peter Bradford said.
“Our people, whether employed directly by Independence or our contractor partners, are the lifeblood of the company and it is through their focus, commitment and hard work that Nova has been delivered to commercial production within five years of when the Sirius exploration team, led by Mark Bennett, drilled that now-famous discovery hole back in July 2012.
“I would like to thank the many contributors to the exploration and development of Nova and to reiterate Independence’s commitment to delivering long-term value to all our stakeholders, especially our local communities.”
Independence chairman Peter Bilbe said the official opening of Nova underpinned the company’s long-term growth strategy and value proposition as a diversified Australian miner.
“Delivery of a project the scale of Nova, in such quick time and with so few hiccups, requires the steadfast commitment of shareholders and I want to acknowledge and thank the loyal investors in Independence for their support,” he said.
“Our company, with the support of our shareholders, has been able to invest in Nova’s development, which in turn has enabled social and economic benefits now and into the future for the prosperity of the Fraser Range region.”
Mines and Petroleum Minister Bill Johnston congratulated Independence on the official opening of the mine.
“We are proud to have played a part in successfully bringing the project to life, the first diamond drill hole at Nova received co-funding from the Exploration Incentive Scheme,” Mr Johnston said.
"Production commencing at Nova is excellent news for the mining sector, especially as this is the first mine of its scale in the highly prospective Fraser Range."
The operation employs 400 personnel on site, who are a combination of direct Independence employees, contractors and sub-contractors.
