KGL Resources to build Northern Territory copper mine

Summarised from 2 outlets · Updated 8 Nov, 19:26 · Archive

KGL Resources is proceeding with construction of its Jervois copper project near Alice Springs, expected to produce high-grade copper concentrate from 2028.

KGL Resources, an ASX-listed company, has made a final investment decision to proceed with construction of its Jervois copper project near Alice Springs. A 72-person construction camp has been installed and a $36 million, 180-room village is being assembled by modular building company Northern Transportables.

The mine is expected to begin producing high-grade copper concentrate in the first half of 2028. Operations are scheduled to last at least ten years, producing an average of 30,000 tonnes annually. The site will require a peak construction workforce of about 350 fly-in, fly-out workers. Once operational, the workforce will swell to 500 or more as the initially open-pit mine transitions to underground mining after about five years.

Chief executive Sam Strohmayr said: 'Our plan is to be Australia's next medium-sized copper producer.' The company acquired the Jervois project in 2011 and has completed over 250 kilometres of drilling to understand the site's geology. KGL completed a $300 million equity raising in June and signed a $US300 million funding agreement with Wheaton Precious Metals in April.

How it is being reported

• Long road to production for nation's next copper minerKGL Resources is moving ahead with construction of a mid-sized copper mine in the Northern Territory as the price of the metal climbs.Perth Now · 8 Nov, 19:01
• Long road to production for nation's next copper minerKGL Resources is moving ahead with construction of a mid-sized copper mine in the Northern Territory as the price of the metal climbs.The West Australian · 8 Nov, 19:01

In this story: KGL Resources · Jervois · Alice Springs · Northern Territory · Northern Transportables · Wheaton Precious Metals · Sam Strohmayr

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