Independence Group NL advised that the first nickel concentrate has been transported from the Nova Project to BHP Nickel West Pty Ltd in Kambalda. Peter Bradford, Managing Director and CEO of IGO said:
“The first shipment of concentrate is another important milestone for the Nova Project and this took place earlier than contemplated by the Feasibility Study and in line with the guidance we provided to the market in our ASX release of 26 October 2016.”
Two three-year off take agreements are in place for the nickel concentrate from Nova, each for 50% of production; the first with BHP Nickel West for delivery to Kambalda, and the second with Glencore, to be shipped offshore via the port of Esperance. All copper concentrate will be shipped offshore via the port of Esperance under a three-year off take agreement with Trafigura with the first shipments expected in the June 2017 quarter.
The next major milestones for the Nova Project will include; Complete drilling and resource estimation at Conductor Five, expected in the March 2017 quarter; First offshore shipments of nickel and copper concentrates, expected in the June 2017 quarter; and Ramp up to full production rate, expected by mid CY17.