Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Australia’s Independence Group’s (IGO’s) Nova mining operations produced 13,772mt of contained copper during the financial year ended June 30, 2020.


The company, which reported its annual and Q4 2020 production from the mine on Wednesday, indicated that copper and nickel production at Nova had exceeded guidance for the year.


Peter Bradford, chief executive officer, IGO said in a statement that the fiscal was filled with unique challenges including the bushfires and the COVID-19 pandemic. He added that the company showed outstanding resilience while achieving excellent operational performance.


During FY 2020, the mine’s copper production rose by 10pc from initial guidance of 11,000-12,500mt, while nickel output stood at 30,436mt up 1.5pc from a guidance of 27,000-30,000mt at the beginning of the year. 


The Nova mine produced 7,181mt of nickel and 3,210mt of copper in the quarter ending June 2020. 



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