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42 Independence Group NL
NOVA PROJECT
The Nova Project is based on a twin nickel-copper-cobalt
sulphide deposit known as the Nova-Bollinger deposit.
The Nova-Bollinger deposit is 700km east of Perth. Sirius
Resources NL (Sirius) obtained 100% ownership in May
2014 following the purchase of Mark Creasy’s 30% joint
venture interest.
A Definitive Feasibility Study (DFS) was completed on
14 June 2014. As part of the DFS, the Nova-Bollinger JORC
resource estimate was updated to 14.3 Mt at 2.3% nickel,
0.9% copper and 0.08% cobalt for 325,000 tonnes of nickel,
134,000 tonnes of copper and 11,000 tonnes of cobalt.
On 4 August 2014, Sirius signed the Nova Mining
Agreement with the Ngadju, the traditional owners of the
land comprising the Nova Project. Subsequently, the Nova
Mining Lease (M28/276) was granted on 19 August 2014.
Construction at Nova commenced on 26 January 2015,
following receipt of final statutory approvals.
At full production, Nova is expected to produce an
average of 26,000 tonnes of nickel, 850 tonnes of cobalt
and 11,500 tonnes of copper annually. On 27 February
2015, it was announced that a three-year off-take
agreement had been signed with BHPB for 50% of the
forecast nickel sulphide concentrate to be produced from
Nova. Subsequently, on 13 May 2015 Sirius announced it
had signed a three-year off-take agreement with Trafigura
for 100% of its future copper sulphide concentrate
produced from Nova.
Milestone
Estimated
Timing
First Ore from Development
Q2 2016
First Ore Feed to the Processing Plant
Q3 2016
First Concentrate Production
Q4 2016
First Nickel Concentrate Shipment
Q1 2017
First Copper Concentrate Shipment
Q1 2017
In January 2015, following the granting of all mining
permits, excavation and construction of the interim
accommodation, aerodrome and access road commenced.
A 492-person accommodation village has been largely
completed and the initial construction camp has been
decommissioned. A 2km long, all-weather, sealed airstrip
has been completed as has the tailings storage facility.
The underground mine’s box cut was completed in May
2015 and the development of the decline is progressing
to plan.
In June 2015, GR Engineering Services Limited was
awarded a $114 million Engineering, Procurement
and Construction (EP&C) contract for the design and
processing of the mineral processing and paste fill plant.
Design work on the plant is underway and expected to be
completed in November 2016.
Production from the Nova Project is expected to
commence in late 2016.
14.3 Mt
nickel ore mineral resource