Austral Resources has secured a AU$15 million investment from the QIC Queensland Critical Minerals Fund (QCMF) to advance expansion studies at its Rocklands processing facility in North West Queensland.
The capital injection, structured as a royalty financing arrangement, will fund a Stage 2 scoping study evaluating an increase in processing capacity at Rocklands from 3 million tonnes per annum (Mtpa) to between 4.5Mtpa and 6Mtpa.
The study will also explore alternative power solutions to enhance operational efficiency and lower long-term processing costs.
The expansion planning comes as internal mine modelling confirms Austral’s own sulphide ore production will fully commit the existing 3Mtpa facility through to at least 2034.
Scaling up capacity ensures Austral can establish Rocklands as a major regional processing hub capable of treating third-party stranded copper deposits across the North West Minerals Province.
Austral Chairman David Newling stated the investment provides a strong endorsement of the company’s long-term commercial strategy following extensive due diligence.
“Our immediate focus remains the successful restart of Rocklands, but this investment also allows us to look beyond restart and plan for the next phase of the operation,” Newling said.
“The studies will help us better understand how Rocklands can continue to evolve as a strategic processing asset while supporting the long-term growth of our business.”
QCMF Fund Manager Joshua Risson noted that Rocklands has the potential to become critical regional infrastructure, unlocking significant economic value across Queensland’s resources sector.
Under the royalty agreement, QCMF will receive a 0.80 per cent gross revenue royalty on the first 200,000 tonnes of contained copper produced through Rocklands, dropping to 0.30 per cent for the subsequent 200,000 tonnes before expiring. Austral remains on track to achieve first production at the facility in the third quarter of 2027.
Minister for Natural Resources and Mines Dale Last said expanding Rocklands was helping unlock the next generation of copper production across the North West Minerals Province.
“Queensland has world-class copper resources and the recently released Delivering Queensland’s Critical Minerals Future 2026-2030 strategy is about ensuring we capture more of the value here at home by investing in the infrastructure that supports processing, manufacturing and long-term regional jobs,” Last said.
