Austral Resources Australia

Austral Resources Australia Ltd (ASX:AR1) is a copper cathode producer and copper miner operating in the Mt Isa region, Queensland, Australia. In addition to its production plant and mine assets, the Company holds 2,147km2 of highly prospective exploration tenure comprised of 38 EPM’s with 2 EPM applications waiting approval before end of 2022. Under the finalised Earn-in Agreement with Glencore’s Mount Isa Mines (MIM), Austral can spend A$2.0M over 4 years to earn-in up to a 65% interest of a further 116km2 of tenure. Austral has committed to an annual A$10M exploration budget targeting both oxide copper and copper sulphide in the heart of this world class copper and base metals province. The Company holds 15 Mining Leases covering 53km2. Austral’s Mt Kelly copper oxide heap leach and solvent extraction electrowinning (SX-EW) plant has a nameplate capacity of of copper cathode. This facility expects to produce of copper cathode over a four-year period from mid-2022. The feed for this plant is sourced from the Company’s wholly owned Anthill oxide copper mine, which currently has an Ore Reserve of 5.06Mt at 0.94% Cu. Austral also owns a significant copper inventory with a JORC compliant Mineral Resource Estimate of 60Mt@ 0.7% Cu of contained copper). The Company continues to progress an intensive exploration and development program across its project book designed to extend the life of mine, increase its resource base and then review options to commercialise existing and any newly identified copper resources. To learn more, please visit: