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Annual Report 2016 5
Our employees at Jaguar and Long
delivered outstanding outcomes in FY16
with improved productivity and cost
control in response to the challenges
presented by declining metal prices.
At Jaguar, we responded to this
challenge with a focus on productivity
and operational consistency to maximise
production. As a result we achieved
record mined and processed tonnes. At
Long, we responded by restructuring the
mine to focus on the lowest cost mining
methods. This resulted in less nickel
production year on year but at a lower
overall cash cost and a higher operating
margin.
Although we scaled back our brownfields
and greenfields exploration expenditure
in FY16 to prioritise investment dollars
to the development of Nova and the
expansions and mine life extension work
at Tropicana, we advanced exploration
initiatives on several fronts.
At Jaguar we infill drilled mineral
resources at depth in the Flying Spur
and Arnage lenses to convert these
to reserves and extend mine life. We
also progressed drilling of the Triumph
discovery and target generation
elsewhere on the 50km long corridor on
our Jaguar concession that is prospective
for VMS deposits. At Long, we temporarily
discontinued exploration in December
2015 and expect to recommence
exploration in FY17.
On our greenfields projects at Bryah
Basin in Western Australia, Fraser Range
– Tropicana in Western Australia, and
Lake Mackay in the Northern Territory,
we continued belt scale early exploration
programs targeting gold and base metals
discoveries.
In the last twelve months we have
achieved much. We have consistently
delivered nancial and production
performance broadly within, or better
than, guidance. We have achieved this
whilst also improving the capacity and
effectiveness of our team and business
processes.
These achievements are only possible
through the dedication and high
performance of our employees and
through the support and contributions
of our stakeholders, of which there are
many. IGO stakeholders include our
shareholders, staff and contractors, the
government and our regulators, our host
communities, our Traditional Owners
and the public in general. We take this
opportunity to thank our employees and
stakeholders for their contributions and
or support of IGO.
Our business has grown during FY16
and this has created opportunities for
our existing employees. Today we have
people working at the Nova Project who
have transferred from our Jaguar and
Long Operations and from our Corporate
office. In addition, people from Sirius
are now in key positions across the IGO
business, at our Jaguar Operation, at our
Nova Project and in our exploration and
corporate teams. There have also been
opportunities to attract new employees
who bring with them new and diverse
skills sets, capabilities and experiences, all
of which helps to make IGO stronger.
Peter Bilbe
Chairman
Peter Bradford
Managing Director and
Chief Executive Officer
IGO’s strategy is to be a diversified mining
company that delivers superior returns
for all stakeholders