Hillgrove commences copper manufacturing at South Australia mine

Hillgrove Sources has introduced manufacturing of first copper focus from the Kanmantoo mine in South Australia, following profitable commissioning of the processing facility.

Highlights:

• Plant commissioning and manufacturing of copper achieved inside focused timeframe of 1Q24.
• Hillgrove is now positioned as one of many few pure play copper producers on the ASX with first revenues from gross sales of the copper focus to be obtained this week.
• Mains energy has now been established to the underground operation leading to a considerable circa 65% price discount to energy use from circa AUS$0.40 per kilowatt hour to circa AUS$0.13 per kilowatt hour. Additional, connection to the South Australian energy grid, which is equipped by over 70% renewable power technology, considerably reduces Kanmantoo’s carbon footprint.

Commenting on the graduation of copper manufacturing, Hillgrove CEO and Managing Director, Lachlan Wallace, stated: “First copper manufacturing from the Kanmantoo underground operation, and the transition to cashflow technology, is a watershed second for the corporate. Over the subsequent few months, the mine output and copper manufacturing are anticipated to ramp up because the deliberate extra work areas are established underground.

Finishing this transition from explorer to producer makes Hillgrove Sources considered one of just a few copper producers on the ASX, and doing so in eight months highlights the Firm’s functionality to ship on said goals. Operations shall be bedded down at Kanmantoo as we ramp as much as regular stage manufacturing, and our consideration will flip to rising the enterprise by changing future exploration and growth alternatives.

The venture is effectively positioned to benefit from the anticipated progress in demand for copper because the world continues to decarbonise by electrification. To leverage our place as a copper producer into the long run, we’re actively looking for to develop each the mine life and the annual copper manufacturing profile by exploration, beginning with our substantial 60 – 100 million t exploration goal inside in shut proximity to the underutilised processing plant, together with the lately found Kanmantoo Deeps goal.”