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IGO reports fire at its Nova nickel-copper-cobalt mine, operations suspended

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(Kitco News) - Australian mining company IGO Limited (ASX: IGO) today reported that a fire has impacted its Nova nickel-copper-cobalt operation over the weekend.

The company said that in the early hours of Saturday, 3 December 2022, a fire damaged the 10MW Nova power station, which is owned and operated by the company's power partner, Zenith Energy.

"The Nova Emergency Response Team attended immediately and was able to isolate and extinguish the fire. Importantly, there were no injuries and all personnel are safe. All operations at Nova are currently suspended," it added.

The company said that the fire was contained to the diesel engine room, which was extensively damaged. Importantly, IGO noted that there has been no damage to other infrastructure, including the control room, switch room, solar PV, Battery Energy Storage and power distribution network.

"Subject to permitting and approval receipt, it is anticipated mining operations will be able to recommence in two weeks, while restoration of the full power supply to operate the processing facility is expected to take approximately four weeks," IGO said in a statement.

The company expects to provide an update to Nova's production and cash cost guidance as part of the December 2022 Quarterly Report due for release on 31 January 2022.

IGO owns and operates the Nova nickel-copper-cobalt operation, the Forrestania nickel operation and the Cosmos nickel operation - all in Western Australia. IGO is also invested in a lithium focused joint venture with our partner, Tianqi Lithium Corporation, which comprises a 51% stake in the Greenbushes lithium mine and 100% interest in a downstream processing refinery at Kwinana producing battery grade lithium hydroxide.

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