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58 Independence Group NL
Project Background
The scope of the Stockman Project encompasses concurrent development of the two underground deposits to feed a central
1.0Mtpa differential flotation concentrator that could produce approximately 150,000tpa of copper and zinc concentrates over a
project life of approximately 10 years. The proposed development includes recommissioning the Wilga underground mine, a new
Currawong underground mine and construction of a process plant and infrastructure.
The existing tailings storage facility will be expanded for use by the project, while water will be sourced from either local on-site
sources or, if required, off-site.
Optimisation Study
During FY2015, IGO completed an optimisation study on the Stockman Project which included an updated Ore Reserve estimate
for the project.
IGO is committed to advancing the Stockman Project through the licensing phase, which is expected to be completed in FY2016.
As a result of the acquisition of Sirius, IGO’s near-term development focus will be the Nova Project. It is anticipated that IGO will
only make a decision on whether or not to proceed with EP&C of the Stockman Project after completing the development of the
Nova Project, and subject to securing the critical licences for the Stockman Project. Any development decision will be made by
IGO in the context of the markets and IGO’s other operations at the relevant time.
Permitting
The Stockman Project’s Environmental Effects Statement (EES) permitting approval from the State of Victoria and the
Commonwealth (under the Federal EPBC Act 1999) was received in the first half of FY2015. Detailed permitting currently in
progress will allow an accurate project timeline to be prepared and the approval conditions to be properly assessed and
integrated into the final investment assessment.