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Independence invests A$51m in exploration

23rd October 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Diversified miner Independence Group will spend A$51-million on discovery expenditure in the 2019 financial year, MD and CEO Peter Bradford said on Tuesday.

Speaking to the Australian Nickel conference, Bradford said that some A$33-million of this funding would go towards greenfield exploration, while A$12-million would go towards exploring the Nova nickel tenements.

A further A$3-million of exploration funding would be spent on the Tropicana joint venture gold project during 2019, with A$2.5-million going towards the Long nickel project, which was placed on care and maintenance in June this year.

A 20 000 m drilling programme was planned for the Nova operation in the 2019 financial year, with Bradford telling delegates that work on this programe had already started.

Meanwhile, Independence on Tuesday announced that it had amended a power purchase agreement with remote power generation specialist Zenith Energy to incorporate a solar photovoltaic (PV) facility at the Nova operation.

Construction of the 12.5 GWh facility would start in early 2019, with first power expected in the first quarter of the 2020 financial year.

The solar PV facility would complement the existing Nova diesel power station, also developed and operated by Zenith, with the installation taking total power generating capacity at the nickel/copper/cobalt mining and processing operation to 26 MW.

This would be the first fully integrated commercial hybrid diesel/solar PV facility in Australia.

“This is another example of the strategic transformation Independence is undergoing to align our business with the global shift to more environmentally-friendly options including renewable energy, battery and clean energy storage technology,” said Bradford.

“Independence’s strategy is to become a globally relevant, premium producer of energy storage and distribution minerals. That means walking the talk on how we implement more sustainable mining practices and use innovative technologies within our own business to demonstrate our commitment to making a difference for future generations.”

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

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