Nova-Bollinger copper mine

A Definitive Feasibility Study (DFS) was completed on the Nova-Bollinger project in July 2014. The project's owners, Sirius Resources had planned to bring the project into production in 2016. In May 2015, Western Australian based Independence Group NL (IGO), announced a bid to take over Sirius for $1.8 billion. In its half year Financial Results presentation released in February 2016, the IGO confirmed that the acquisition and integration of Sirius Resources had been completed. The project was understood to be 68% complete at the end of January 2016, with first concentrate production expected by the end of the year. In the accompanying analysis we have assumed that the project will start up in 2017.