MINING
prices . The minerals markets are cyclical by nature , and a mine with an initial ten year life like the Nova project , will certainly live through at least one peak and one trough . Thanks to a combination of smart design , canny contracting and a programme of cost optimisation , when it comes into production towards the end of this year Nova will have an operating margin of 40 % even at current depressed nickel prices . The mine is slated to ship an average of 26,000 tonnes of nickel a year once it ramps up to full production next year , plus 850 tonnes of cobalt and 11,500 tonnes of copper .
Perth-based , Independence Group ( IGO ) was formed in 2000 initially with a focus on gold . Soon after it diversified with the acquisition of the Long nickel mine in Kambalda , Western Australia that it acquired from BHP Billiton in 2002 . Independence also has a revenue stream from its 30 percent interest in the Tropicana
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