Independence Group JV commits to Long Island venture

Company News

by Jessica Ellerm

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.

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.