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Greatland Resources Ltd on Monday said the results of a feasibility study for its Havieron gold-copper project have established a pathway for its development into a long-life, low cost mine. The Western Australia-focused gold and copper mining company said the study projects an annual production target of 266,000 ounces of gold and 9,600 tonnes of copper. It expects steady-state operations to generate a pretax cash flow of A$739 million, approximately £366 million. The initial mine life is 17 years, including an initial nine-year steady state. Greatland said the Havieron ore is to be processed through existing infrastructure at Telfer, which comprises open pit and underground mine operations. Havieron is located approximately 45 kilometres east of Greatland’s Telfer gold-copper operations. The company expects A$1.07 billion of the pre-production capital expenditure to be fully funded from an existing A$750 million in cash, ongoing Telfer cash flows and an A$500 million debt commitment from a lending syndicate. Looking ahead, Greatland said it will carry out a Telfer drill programme in financial 2026, as well as an updated mineral resource and ore reserve estimate, before targeting a multi-year integrated Telfer-Havieron production outlook in financial 2027. Managing Director Shaun Day hailed the ‘robust’ results of the study, adding it ‘confirms Havieron’s world-class quality and sets the pathway for its development into a long-life, low cost, leading Australian gold-copper mine that will integrate efficiently with the existing infrastructure at Telfer.’ ‘The delivery of Havieron positions Greatland for long-term success, complementing the ongoing, strong operational performance of Telfer. Looking ahead, we look forward to obtaining the final permits required to take final investment decision and resume full development at Havieron, and to outlining our integrated Telfer-Havieron production plan,’ Day added. Shares in Greatland rose 5.7% to 398.33 pence on Monday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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