IGO (ASX: IGO) has ended mining and processing at its Nova nickel operation in Western Australia after exceeding its final production targets, ahead of a planned conversion of the plant to process lithium ore.
The operation, about 360 km southeast of Kalgoorlie, produced 21,340 tonnes of nickel from July 1, 2025, through the end of production, 7% above the upper end of its revised guidance of 20,000 tonnes, IGO said Monday.
“Nova has been a high-quality, low-cost operation for almost a decade, and it has finished as strongly as it started,” managing director and CEO Ivan Vella said. “Delivering this in the final stages of a mine’s life, when operations are often at their hardest, reflects the capability and commitment of the Nova team.”
The shutdown opens a path for Nova’s infrastructure to support another commodity. Global Lithium Resources (ASX: GL1) agreed in July to buy Nova for $7 million (C$6.8 million), with plans to repurpose the processing plant and infrastructure for its Manna lithium project.
Final output
Copper production over the same period reached 9,517 tonnes, just above guidance of 8,500 to 9,500 tonnes, while cobalt output totalled 765 tonnes against a forecast of 650 to 750 tonnes.
Cash costs were $3.90 per lb. of payable nickel, including royalties and after byproduct credits, 8% below the bottom of the revised $4.25-to-$5 guidance range, IGO said.
Nova began commercial production in July 2017 and had been scheduled to reach the end of its mine life in late 2026. Underground contractor Barminco, which began work at the mine in 2015, completed more than 52 km of development and mined more than 14.5 million tonnes of ore over 11 years, the contractor said.
The team is demobilizing the site ahead of the sale, which IGO expects to complete in the coming weeks. The buyer will also take on Nova’s rehabilitation obligations. The purchase price comprises $3 million in cash and $2 million in Global Lithium shares at completion, plus $2 million in cash a year later.
IGO shares closed 0.4% stronger Tuesday in Sydney at $5.22, valuing the company at about $3.95 billion. The stock has traded between $4.77 and $10.05 over the past 12 months.
Source: www.northernminer.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
