The West

Tropicana helps Independence Group shine
Mining operations at the Tropicana project

Multi-commodity miner Independence Group has reported a $46.6 million profit on the back of $137 million in revenues from its 30 per cent owned Tropicana gold project.

The low-cost joint venture with AngloGold Ashanti - 330km east-north-east of Kalgoorlie-Boulder - led the way for the miner, which reported overall revenues of $399 million, down from $225.9 million the previous financial year.

The miner reported net profit of $46.6 million - up from $18.3 million last year.

The company attributed the result to the "positive impact" of production at Tropicana, which commenced in September, and an improved nickel price in the second half of the year.

Independence also operates the Long nickel operation near Kambalda and the Jaguar and Bentley zinc-copper-silver underground mines near Leonora.

It reported a fully franked final dividend of 5 cents per share.

Independence Group shares were unchanged at $4.48 at 11am.

The West Australian

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