Australian copper producer Austral Resources has been reinstated to trading on the Australian Securities Exchange (ASX) – marking a “major step forward” in positioning itself as the country’s next mid-tier copper powerhouse.
The company said it has a strong balance sheet, dual-hub copper production platform and a clear strategy for growth and long-term sustainable production across Queensland.
The dual-hub platform includes the Mount Kelly plant with immediate oxide production capacity of 25,000 tonnes per annum (tpa) and the Rocklands processing plant – a 3 million tpa sulphide concentrator scheduled for production restart in mid-2027.
The two-asset structure provides processing flexibility for both oxide and sulphide ore and underpins a regional consolidation strategy supported by a long-term offtake agreement with Glencore, the company said.
“Austral’s reinstatement to trading on the ASX marks the beginning of a new chapter for the company and its shareholders. With a robust balance sheet, two world-class processing hubs, and a clear growth pathway, we are positioned to deliver sustainable copper production for decades to come,” Austral chairman David Newling said.
“Our focus remains on creating long-term value through responsible development, operational excellence, and the continued expansion of our regional footprint as Australia’s next mid-tier copper powerhouse.”
A recent fundraising placement, through the sale of shares at five cents, raised $40 million to help create a strong balance sheet and underpins the company’s development and exploration plans, giving Austral an estimated value of $85 million and more than $1 billion in “replacement-value infrastructure”.
This, the company said, positions Austral to deliver on growth strategies and create sustainable value for its shareholders.
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