AIC Mines has exceeded its FY25 production guidance at the Eloise mine in North-West Queensland having produced 12,863t of copper and 5,955oz of gold in concentrate.

This achievement represented the second year and eighth quarter in a row that Eloise had achieved production guidance, the company said.

“This is an excellent outcome and testament to the energy and ability of the team at Eloise and the capital investment made by AIC Mines since acquiring the mine in November 2021,” AIC Mines managing director Aaron Colleran said.

Related: AIC Mines tops up coffers for Eloise expansion

The underground copper mine, 60km south-east of Cloncurry, was previously operated by FMR Investments.

Since acquiring Eloise, AIC Mines said it had focused on improving operational reliability through:

• Investment in the mining fleet and mine ventilation to maintain productivity
  and improve efficiency;
• Discovery and development of additional ore sources; and
• Developing the operational leadership team and reducing employee
  turnover.

The company had been targeting full-year production for FY25 of about 12,500t copper and 5,000oz gold in concentrate at an AISC of about $5.25/lb copper and AIC of $5.50/lb copper.

It has set the wheels in motion for a processing plant expansion and development of a sister mine at Jericho, 4km south of Eloise, to take production above 20,000tpa copper in concentrate from FY28.

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