Hillgrove Resources (ASX:HGO) has reached a 1.8 million tonnes per annum (Mtpa) run rate at its Kanmantoo Copper Mine in South Australia, achieving the milestone during June.
Both mining and milling operations delivered the annualised run rate of 1.8Mtpa during the month.
Comprehensive financial and operating results will be provided in the June quarter report, scheduled for release in the week commencing 20 July.
The company has also brought forward its Emily Star Stage 2 Final Investment Decision (FID) to the September quarter, earlier than previously anticipated.
The decision is supported by ongoing drilling, geotechnical and financial assessment activities.
CEO Bob Fulker says reaching the run rate “showcases the team’s ability to execute consistently against plan and continue to utilise latent processing capacity”.
“We now have sufficient information to act, and our disciplined, risk-based approach enables us to move early, incorporate new data as it comes, and maintain momentum. Our focus remains on validating the technical and economic assessment so we can confidently advance the next phase of growth,” Fulker adds.
The company’s acceleration of the Emily Star FID reflects confidence in the project’s technical and economic parameters. The company continues drilling and assessment work to support the investment decision.
Hillgrove Resources is an Australian copper producer focused on scaling underground operations at its flagship Kanmantoo Copper Mine in South Australia while advancing a growing regional portfolio of critical mineral exploration projects.
Write to JC Villarba at Mining.com.au
Images: Hillgrove Resources
