AIC Mines Ltd. has unveiled plans to accelerate its transformation into a 1.5 million tonnes per annum (Mtpa) dual-mine operation and bring forward its long-term production targets by two years.
The miner released its fiscal 2027 guidance alongside updated fiscal 2028 and fiscal 2029 production targets, outlining a clear path to generating over 25,000 tonnes per annum (tpa) of copper in concentrate.
For fiscal 2027, the combined Eloise and Jericho operations are projected to produce between 17,500t and 18,500t of copper in concentrate.
Output will be heavily weighted toward the second half of the financial year following the planned commissioning of the Stage 1 Eloise processing plant expansion to 1.1Mtpa in the December 2026 quarter.
Blended average all-in sustaining costs (AISC) for fiscal 2027 are expected to sit between AU$4.80/lb and AU$5.20/lb. Reduced underground development at Eloise is anticipated to drive strong free cash flow during the first half of fiscal 2027, before costs step up in the second half to fund accelerated underground development at Jericho.
The company expects copper output to surge by approximately 50 per cent in fiscal 2028 to between 20,000t and 22,000t, driven by the full ramp-up of underground mining at Jericho.
Supported by strong copper and gold price fundamentals, AIC Mines has fast-tracked its Stage 2 plant expansion to 1.5Mtpa.
Originally targeted for fiscal 2031, the Stage 2 expansion is now scheduled for completion in the December 2028 quarter, pushing fiscal 2029 production targets to between 25,000t and 27,000t of copper in concentrate.
AIC Mines confirmed the Stage 2 expansion, estimated at AU$15 million, requires no additional equity funding.
However, to maintain financial flexibility, the company expanded its existing Trafigura prepayment facility by US$10 million to US$50 million, providing a capital buffer against potential commissioning delays or cost pressures.
