Australian metal producer Aurelia Metals has received approval from New South Wales authorities to triple the volume of ore it can transport from its Federation mine to its Peak processing facility. The change in project consent, announced on March 28, allows the company to move up to 600,000 tonnes of mixed metal ore per year, a significant increase from the previous cap of 200,000 tonnes. The updated consent reflects the company’s growing operational capacity.
Federation mine, which opened in mid-2024, has been ramping up production. Between October and December 2024, Aurelia processed 16,500 tonnes of ore from Federation, yielding 55 tonnes of copper, 626 tonnes of lead, 1,263 tonnes of zinc, and 502 ounces of gold. The company plans to further optimize its operations at the Peak processing plant to handle the increased ore volume efficiently. This aligns with Aurelia’s broader strategy to expand its base metal output.
Aurelia’s expansion comes at a time when other Australian metal producers are scaling back operations. For example, IGO paused its Forrestania nickel project in late 2024 and plans to close its Nova copper and nickel mine by 2027. Globally, production cuts have also been observed; Glencore reduced its total copper output by 6% in 2024 due to planned declines in Chile and Peru and disruptions in the Democratic Republic of Congo. These trends highlight contrasting strategies within the mining sector.
Copper prices have shown significant volatility over the past year. The London Metal Exchange (LME) recorded a cash price of $8,696 per tonne on March 27, 2024. Prices fluctuated between $8,620 and $10,857 over the following months before settling at $9,787 per tonne on March 27 this year. Copper’s price movements remain a critical factor for industry players.
