Great Cobar turns proud history into a strong future

12 May 2022

GREAT COBAR TURNS PROUD HISTORY INTO A STRONG FUTURE 

Aurelia is pleased to announce the Government of New South Wales has granted the Company development consent to mine new areas at its Peak operations until 2035.

The approval allows the establishment of a new mining area adjacent to the historic Great Cobar copper-gold deposit, which established Cobar as a regional centre after mining commenced in 1871.

Managing Director and Chief Executive Officer, Dan Clifford said the 10-year extension of its Peak Mines is good news for the State’s critical minerals industry, and the men and women who support it through full-time jobs.

“The extension of our Peak Mines will secure a strong future for more than 400 employees and full-time contractors through ongoing employment, including 140 new jobs during construction.

“All this means a total of $600 million in direct and indirect wages and salaries to be paid to workers in New South Wales, as well as an additional $240 million payable to the state government in royalties and taxes.

“It’s welcome security for our workforce and local businesses who supply the Peak Mines, their families, and their communities,” Mr Clifford said.

With record global copper prices more than US$9,000/tonne, Aurelia is also set to benefit from the increasing global demand as one of the only producers in the region to bring a new copper deposit into production in around two years’ time.

“The state government’s approval is a sign of confidence in the strong demand for New South Wales copper, which is a critical mineral for our transition to a low carbon economy.

“At our Peak Mines, we are proud to be extracting the modern metals that will aid this transition while constructing a new underground mine we believe will deliver significant value for the community and our shareholders,” Mr Clifford added.

Mr Clifford concluded by thanking the team at Aurelia who worked on the Great Cobar Pre-Feasibility Study and ultimately helped make this approval possible.  

“I look to the future of our Company, and that of the Great Cobar Mine, with confidence knowing our team encompasses such inspirational, hard-working people,” Mr Clifford said.

Follow the below links to view the Central West news coverage of this approval:

Follow this link to read the full ASX Announcement: ‘Great Cobar Project receives NSW government approval’.

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