The scheduled mining of lower grade areas in the coming 6 months is expected to leave the AngloGold Ashanti-IGO JV’s Tropicana gold mine in Western Australia below the 475,000oz mid-point of FY20 guidance.
IGO posted Dec qtr (Q2) Tropicana production of 133,932oz at AISC of $A948/oz, compared to 123,320oz at $1,066/oz in the previous quarter.
The Australian miner’s 100% owned Nova nickel-copper-cobalt mine delivered 7,513t Ni (Q1: 7,724t) and 3,289t Cu (3,490t) at cash costs of $2.42/lb Ni ($2.59/lb).
Underlying EBITDA fell to $116.7M ($153.9M) on revenue of $211.6M ($263.1M), and IGO ended the period with net cash of $395.6M ($264M).