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Independence takes greater stake in Orion

By: Esmarie Swanepoel     18th May 2018 Diversified metals miner Independence Group has taken a bigger stake in South Africa-focused explorer Orion Minerals, increasing its shareholding from 4.2% to 11.1%. Independence will subscribe for A$5-million worth of Orion shares, priced at 5c each, with the two companies also entering into a... 

Australia's gold production may rise to record - report

By: Reuters     7th March 2018 Gold output from Australia, the world’s second-largest producer, may rise to a record as a stream of new projects comes on line, Australian mining consultancy Surbiton Associates said on Sunday. Australian gold miners, among the lowest cost globally, have enjoyed high margins in recent years,... 

Fourth month of continuous growth for Deloitte WA Index

9th February 2018 The Deloitte WA Index climbed marginally higher in the first month of 2018, as the market capitalisation of Western Australia-listed companies increased by 0.48% to close out January at A$181.83-billion. This marks the fourth month of continuous growth, Deloitte clients and markets partner for... 

AngloGold’s Tropicana JV commits to Long Island strategy

By: Mariaan Webb     7th December 2017 Joint venture (JV) partners AngloGold Ashanti and Independence Group have committed to the initial phase of the Long Island strategy, which will ultimately add 2.1-million ounces to the Tropicana mine’s business plan and will extend the operation’s mine life by seven years to 2027. The... 

Independence delivers strong start to FY18

By: Esmarie Swanepoel     25th October 2017 Diversified miner Independence Group has delivered a strong start to its 2018 financial year, as the Nova project, in Western Australia, delivered its first full quarter of commercial production. Nickel production at the Nova operation, in the Fraser Range, was up by 82% on the previous quarter,... 

Independence unveils nickel exploration budget for 2018

By: Esmarie Swanepoel     17th October 2017 ASX-listed diversified miner Independence Group will spend nearly 60% of its A$50-million exploration budget in 2018 on the Nova and Fraser Range project area. Independence MD and CEO Peter Bradford told delegates at the Paydirt nickel conference in Perth, on Tuesday, that A$9-million would be... 

Nova base metals mine in Fraser Range officially opened

By: Esmarie Swanepoel     8th September 2017 Base metals miner Independence Group has officially opened its Nova nickel/copper/cobalt mine, in Western Australia. MD and CEO Peter Bradford told shareholders on Friday that Nova reached commercial production only five years after its initial discovery, with the project expected to reach... 

Independence back into black in 2017

By: Esmarie Swanepoel     30th August 2017 Diversified metals miner Independence Group has swung back into black during the full year ended June, with the miner reporting a net profit after tax of A$17-million, compared with a net loss after tax of A$58.8-million reported at the end of the 2016 financial year. “Our financial and... 

Accelerated mining plan to bring forward 200 000 oz at Tropicana

By: Esmarie Swanepoel     7th August 2017 Diversified metals miner Independence Group is on track to bring forward over 200 000 oz of gold production at its Tropicana gold joint venture (JV), in Western Australia, between 2017 and 2019, with the re-introduction of grade streaming. Independence, which owns 30% of Tropicana in a JV with... 

Nova to reach commercial production by end of June

By: Esmarie Swanepoel     26th June 2017 The Nova nickel/copper/cobalt mine, in Western Australia, is expected to reach commercial production by the end of June, ASX-listed Independence Group said on Monday. Since commissioning started in October last year, the processing plant has been constrained by ore production from the... 

Independence Group to sell Stockman project for A$47m

By: Esmarie Swanepoel     14th June 2017 Diversified miner Independence Group will divest of its Stockman copper-zinc project, in Victoria, to CopperChem for A$47.2-million. The company on Wednesday said the sale of the Stockman project was consistent with its strategy of focusing on high-quality assets of scale, longevity and... 

Independence confirms Nova ramp-up date

By: Mariaan Webb     12th April 2017 The ramp-up of the Nova project, in Western Australia, has been delayed by three months, diversified miner Independence Group confirmed on Wednesday. The company reported that the project would reach its nameplate capacity of 1.5-million tons a year in the September quarter, instead of the June... 

Orion’s shares rise on deal activity

By: Esmarie Swanepoel     10th March 2017 The share price of metals developer Orion Gold has increased by nearly 11% on news of two distinctive deals struck this week. Orion on Friday announced that it had reached an agreement with equity group Tembo Capital, which has agreed to invest some A$3-million on Orion’s current convertible note... 

Independence swings to H1 profit, warns of Nova ramp-up delay

By: Esmarie Swanepoel     21st February 2017 Diversified metals miner Independence Group has swung back to a profit in the six months ended December 31, on the back of higher underlying earnings before interest, taxes, depreciation and amortisation (Ebitda) and revenue. Profit for the half-year reached A$202-milion, compared with a loss of... 

Independence reports solid quarter

By: Esmarie Swanepoel     25th January 2017 Metals miner Independence Group has reported solid quarterly production results from its Tropicana gold and its Long nickel mines, in Western Australia. Independence on Wednesday reported that the Tropicana joint venture (JV) with AngloGold Ashanti delivered 121 195 oz of gold during the second... 

Capricorn Metals announces discovery of new, high-grade structure

By: Ilan Solomons     19th December 2016 Australian junior gold miner Capricorn Metals has confirmed the presence of a new, high-grade mineralised structure in the immediate footwall of the Bibra gold deposit at its 100%-owned Karlawinda gold project, in Western Australia.   Capricorn MD Peter Thompson said on Monday that a recently... 

AngloGold's Tropicana JV gears up for accelerated mining rate

By: Esmarie Swanepoel     15th December 2016 Gold production from the Tropicana mine, in Western Australia, is expected to improve considerably next year, when grade streaming is reintroduced. Gold major AngloGold Ashanti, which owns 70% of Tropicana, and its joint venture (JV) partner Independence Group, which owns a 30% stake in the... 

Nova ships first concentrate to Nickel West

By: Esmarie Swanepoel     12th December 2016 Metals miner Independence Group has transported the first nickel concentrate from the Nova project, in Western Australia, to BHP Billiton’s Nickel West operations. “The first shipment of concentrate is another important milestone for the Nova project and this took place earlier than contemplated... 

Sheffield and Independence form Fraser Range JV

By: Esmarie Swanepoel     16th November 2016 ASX-listed junior Sheffield Resources has signed a joint venture (JV) agreement with metals producer Independence Group over four granted tenements in the Fraser Range region of Western Australia. Under the terms of the JV, Independence will earn a 51% interest in the project area by making an... 

Independence takes major stake in Windward

By: Esmarie Swanepoel     28th October 2016 Metals miner Independence Group has secured a majority stake in takeover target Windward Resources. Independence, which launched a 19c a share offer for Windward earlier this month, has now acquired over 50.1% of Windward’s ordinary shares through acceptance of the offer and on-market purchases. 

Nova project delivers first concentrate six weeks early

By: Esmarie Swanepoel     26th October 2016 Metals miner Independence Group has produced its first concentrate at the Nova nickel/copper project, in Western Australia’s Fraser Range. “The production of first nickel and copper concentrate is a key milestone for the Nova project. Based on the definitive feasibility study, the first... 

Eastern Goldfields makes way for Windward/Independence deal

By: Esmarie Swanepoel     10th October 2016 Takeover target Windward Resources has abandoned a financing transaction with fellow-listed Eastern Goldfields, in favour of a deal with diversified miner Independence Group. Eastern Goldfields in September announced plans to acquire a 14.3% stake in Windward for A$2.1-million. However,... 

Independence seeks Fraser Range expansion with A$20m Windward takeover

By: Esmarie Swanepoel     5th October 2016 Diversified metals miner Independence Group has launched a A$20.5-million offmarket takeover offer for ASX-listed Windward Resources, which controls exploration tenements near its Nova project, in Western Australia. The offer, which is unanimously supported by the Windward board, consists of 19c... 

Independence to raise up to A$280m to strengthen balance sheet

By: Creamer Media Reporter      27th July 2016 ASX-listed Independence Group (IGO) plans to raise up to A$280-million to strengthen its balance sheet and fund the remaining capital expenditure (capex) for its Nova base metals project, in Western Australia. The equity raising comprises a A$250-million fully underwritten placement and an up to... 

Independence develops Bollinger decline early

By: Creamer Media Reporter      21st July 2016 Base metals firm Independence Group (IGO) is accelerating the development of the Bollinger orebody at the Nova nickel/copper/cobalt project, announcing on Thursday that work has begun on a new decline. Early access to the Bollinger orebody is expected to deliver enhanced early cash flow and... 

Independence remains within FY production guidance range across operations

By: Samantha Herbst     11th July 2016 ASX-listed diversified mining and exploration company Independence Group (IG) announced on Monday that gold production at its 30%-owned Tropicana gold mine – which is 70% owned and managed by AngloGold Ashanti – was 28 651 oz for the June quarter, which was firmly within its production guidance... 

First ore mined in development at Independence’s Nova project

By: Creamer Media Reporter      28th June 2016 Base metals miner Independence Group has mined the first development ore at the Nova project, in Western Australia. The company reported on Tuesday that the mining of the first ore was an important milestone as work progressed to complete construction and development of the nickel/copper/cobalt... 

Independence reports a mixed quarter

By: Esmarie Swanepoel     29th January 2016 Metals miner Independence Group has reported a mixed bag of results during the three months to December. The ASX-listed company told shareholders this week that gold production from the Tropicana joint venture, in Western Australia, increased from the 118 204 oz delivered in the September... 

Independence scales back exploration

By: Esmarie Swanepoel     21st January 2016 Diversified metals miner Independence Group has cut its 2016 exploration spend by A$20-million on the back of continued weak base metals prices. The company reported on Thursday that it would rationalise and prioritise exploration activities, with the funding and execution of the Tropicana and... 

BHP to cut 37 jobs at Kambalda concentrator

By: Esmarie Swanepoel     8th October 2015 Mining giant BHP Billiton will cut some 37 staff from its Kambalda concentrator, in Western Australia, as third-party providers cut ore supply. The concentrator, which has a capacity of 1.6-million tonnes a year, relies entirely on third-party feedstock. 

Sirius shares to cease trading on Sept 11

By: Esmarie Swanepoel     10th September 2015 The Federal Court of Australia has approved ASX-listed miner Independence Group’s takeover of fellow-listed Sirius Resources. The merger agreement, which would see Sirius shareholders issued 0.66 of an Independence share for every one Sirius share held, along with a cash consideration of 52c a... 

Independence revises Long mine plan

By: Esmarie Swanepoel     9th September 2015 Diversified miner Independence Group has revised its mine plan and cut staff numbers at its Long operation, in Western Australia, in response to the current weakness in the nickel price. The ASX-listed company said on Wednesday that some 28 staff members would be made redundant at the mine, as... 

Independence reports stellar year

By: Esmarie Swanepoel     24th August 2015 Diversified metals miner Independence Group has reported record revenue of A$499-million for the financial year ended June 30, as the miner beat both production and cost targets. Revenue was up by 25% on the previous financial year, as the Tropicana gold mine, in Western Australia, contributed... 

Sirius inks supply agreement with Glencore

By: Esmarie Swanepoel     18th August 2015 Takeover target Sirius Resources has inked a supply agreement with diversified major Glencore to supply nearly half of the planned nickel sulphide concentrate production from the Nova mine, in Western Australia. It was expected that concentrate from Nova would be trucked by road to either the... 

WA's miners see 290% growth in last 15 years – Deloitte

2nd August 2015 Over the last 15 years, the value of Western Australia’s top 100 listed companies has grown by 290%, to some A$131.9-billion, advisory firm Deloitte has reported. Ahead of the annual Diggers & Dealers conference, Deloitte released its fifteenth anniversary edition of the Western Australian Index,... 

Independence secures A$550m for Sirius buy

By: Esmarie Swanepoel     29th July 2015 ASX-listed Independence Group has secured A$550-million in financing from a number of Australian banks to fund its takeover of fellow listed Sirius Resources. In May, the two companies announced merger plans that would see Sirius shareholders issued with 0.66 of an Independence share for every... 

Independence in A$1.8bn Sirius takeover, new ASX listing planned

By: Esmarie Swanepoel     25th May 2015 The resources rumour mill proved true on Monday after metals miner Independence Group and nickel developer Sirius Resources announced merger plans, that valued Sirius at around A$1.8-billion. 

Independence buys shares in Gold Road

By: Esmarie Swanepoel     14th May 2015 ASX-listed junior Gold Road Resources on Thursday confirmed that fellow-listed metals miner Independence Group had acquired a portion of the company’s shares. Canada-based Minco Silver Corporation sold some 22-million of its shares in Gold Road Resources at a price of 38.5c each to Independence,... 

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