Hillgrove Resources has hit a key milestone with the production of first copper concentrate at the Kanmantoo mine in South Australia.
The first blast at the mine was struck on December 30 last year, with blasts ramping up over January and haulage launching in preparation for first production.
“First copper production from the Kanmantoo underground operation, and the transition to cashflow generation, is a watershed moment for the company,” Hillgrove chief executive officer and managing director Lachlan Wallace said.
“Over the next few months, the mine output and copper production are expected to ramp up as the planned additional work areas are established underground.
“Completing this transition from explorer to producer makes Hillgrove Resources one of only a few copper producers on the ASX, and doing so in eight months highlights the company’s capability to deliver on stated objectives.”
Wallace said operations will be bedded down at Kanmantoo as the company ramps up to steady-state production, with attention turning to growing the business by converting future exploration and development opportunities.
“The project is well positioned to take advantage of the anticipated growth in demand for copper as the world continues to decarbonise through electrification,” Wallace said.
“To leverage our position as a copper producer into the future, we are actively seek to grow both the mine life and the annual copper production profile through exploration, starting with our substantial 60–100 million-tonne exploration target within close proximity to the under-utilised processing plant, including the recently discovered Kanmantoo Deeps target.”
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