Independence Group NL (ASX:IGO) has announced that the Tropicana Joint Venture (TJV) with AngloGold Ashanti Australia (ASX:AGG) will look to extend the operating life of its Long Island mining project through to 2027.
Process plant improvements will also take place, increasing throughput and improving gold production.
IGO’s Managing Director Peter Bradford has stated the accelerated mining strategy should result in higher free cash flow to IGO.
The company is also exploring the region around Tropicana to gauge the potential for further mining opportunities.
Independence Group NL (ASX:IGO) closed 0.25 per cent lower yesterday at $4.05.