How Is Aurelia Metals Accelerating Copper Growth Ahead of FY26?
Aurelia Metals reports a robust September 2025 quarter, with production and costs aligning to plan and key projects advancing ahead of schedule. Significant growth in copper resources and reserves underpins a confident outlook for FY26 and beyond.
- Federation mine ramp-up ahead of FY26 schedule with costs on target
- Great Cobar copper project development progressing on time and budget
- Group mineral resources increased 12%, ore reserves up 17%, driven by copper growth
- Processing plant upgrades underway to boost throughput and metal recoveries
- Strong liquidity position supports ongoing growth and exploration activities
Robust Production and Cost Performance
Aurelia Metals Limited (ASX – AMI) has delivered a strong operational performance in the September 2025 quarter, with production volumes and operating costs closely tracking the company’s mine plan and budget. Gold, copper, zinc, and lead outputs all showed solid progress, setting a firm foundation for the anticipated ramp-up in FY26. Notably, the Federation mine is advancing ahead of schedule, with ore mined up 19% year-to-date and development metres 31% higher, signaling potential to exceed planned volumes.
Great Cobar Project on Track
The Great Cobar copper growth project continues to gather momentum, with mining crews mobilised and infrastructure development proceeding as planned. Capital expenditure remains within budget, and key milestones such as underground development and surface works are progressing well. These efforts are critical to achieving the company’s target processing rate of 1.1 to 1.2 million tonnes per annum, supported by ongoing upgrades to the processing plant designed to improve metal recoveries and throughput.
Significant Resource and Reserve Growth
Aurelia Metals reported a 12% increase in group mineral resources to 29 million tonnes and a 17% rise in ore reserves to 5.5 million tonnes, with copper resources at the Peak mine expanding by 19% and ore reserves surging 50%. These gains reflect successful exploration and infill drilling programs, including new high-grade discoveries at the Nymagee project. The resource base expansion underpins an approximately eight-year production target horizon, providing a solid platform for future growth.
Sustainability and Safety Progress
The company continues to prioritise safety and environmental stewardship, reporting stable and improving safety metrics alongside a low frequency of environmental incidents. These efforts are essential to maintaining the social licence to operate and ensuring sustainable long-term operations across its asset portfolio.
Financial Strength and Strategic Focus
With a cash balance of A$88.1 million and disciplined capital allocation, Aurelia Metals is well-positioned to fund its growth projects, including Federation’s ramp-up and Great Cobar’s development. The company remains focused on productivity improvements, cost control, and advancing a pipeline of low-cost growth options aimed at increasing copper equivalent production towards 40,000 tonnes per annum by FY28.
Bottom Line?
Aurelia Metals’ strong quarterly execution and resource growth set the stage for an accelerated growth trajectory, but market watchers will be keen to see how operational ramp-ups translate into sustained cash flow.
Questions in the middle?
- Can Federation sustain its accelerated ramp-up without cost overruns?
- What impact will processing plant upgrades have on metal recoveries and margins?
- How will ongoing exploration at Nymagee and other sites influence future resource upgrades?
