Develop Global Raises Woodlawn Mine Production Guidance

en.Wedoany.com Reported - On September 29, Australia's Develop Global released its first annual production, cost, and capital expenditure guidance for the 2027 fiscal year. The company expects the Woodlawn mine to process 775,000 to 875,000 tonnes of ore for the full year, with an average copper equivalent grade of approximately 2.7%, corresponding to copper equivalent metal production of 21,000 to 23,500 tonnes; Woodlawn's full-year underlying operating costs are expected to be A$180 million to A$200 million.

Woodlawn entered a stable production phase in 2026. The company's copper equivalent production in the June quarter reached 4,625 tonnes, up 47% quarter-on-quarter, with copper, zinc, and lead recoveries increasing to approximately 80%, 75%, and 80%, respectively; Woodlawn's sales revenue for the same period reached A$84 million. The company expects the mine's cash flow contribution to increase further in the 2027 fiscal year as plant recoveries and grades continue to improve.

The Pioneer Dome lithium project is planned to commence direct shipping ore sales in the December quarter of 2026. Develop expects to mine 650,000 to 750,000 tonnes of ore in the 2027 fiscal year, with an average grade of approximately 1.2% Li₂O, corresponding to 7,800 to 9,000 tonnes of lithium metal, with DSO conversion recovery expected to be 70% to 85%. The project's full-year underlying operating costs are expected to be A$88 million to A$97 million, with an additional A$29 million to A$32 million in growth capital expenditure allocated for site construction, infrastructure, and preparation for open-pit mining and a potential underground decline.

The company's group growth capital expenditure for the 2027 fiscal year is expected to be A$411 million to A$458 million, of which A$367 million to A$406 million will be invested in the Yitirrti copper-silver-zinc project, primarily for underground development, the processing plant, power, and on-site infrastructure construction. Yitirrti remains in the construction phase during the 2027 fiscal year, with first concentrate production targeted for the June quarter of 2028.

Develop made final investment decisions on Pioneer Dome and Yitirrti in June 2026 and secured US$400 million in financing and offtake support from Trafigura. The company has now formed a three-asset development system comprising Woodlawn in stable production, Pioneer Dome entering sales preparation, and Yitirrti advancing construction.