The State Government has granted AIC Mines’ Jericho mining lease, paving the way to expand the nearby Eloise copper operation and add 10 years to its life.

The development of the Jericho mine, along with an Eloise processing plant upgrade, is expected to increase the site’s production rate to more than 20,000t of copper and 10,000oz of gold in concentrate each year.

AIC Mines managing director Aaron Colleran said the project would employ 150 people over a 24-month construction period and then 100 new permanent employees when in production.

“The world needs more copper as we transition away from fossil fuels and AIC Mines is focused on delivering on that demand,” he said.

“Queensland is a great place to be operating – it has the copper, the mining infrastructure and the skilled labour force to help fill what is expected to be an insatiable global appetite for copper.”

The Jericho deposit is located 4km south of AIC’s Eloise copper operation in North-West Queensland and will be developed as an underground mine.

AIC recently announced a lift in resources to 14.1Mt grading 2.0 per cent copper and 0.4g/t gold, containing 285,600t of copper and 176,900 ounces of gold.

At the time, Mr Colleran described Jericho as shaping up as one of the most exciting new copper projects in Australia.

AIC Mines acquired the Eloise copper mine, 60km south-east of Cloncurry, from FMR Investments in 2021 and subsequently secured the Jericho copper deposit in a takeover of Demetallica.

“AIC Mines acquired the Jericho copper deposit in January last year and to have the mining lease granted after only 16 months of ownership is testament to the quality of the project, the work ethic of the AIC Mines team and, importantly, the consistent and well-understood Queensland mining approvals process,” Mr Colleran said.

“Granting of the Jericho mining lease is an important milestone on the Jericho development journey.

“It provides a pathway to expanding annual production at Eloise to over 20,000t of copper and 10,000oz of gold in concentrate.”

This compares to a current target of about 12,500t of copper and 6,500oz of gold in concentrate.

Related: AIC increases copper-gold inventory for Eloise operation

Resources and Critical Minerals Minister Scott Stewart said the Jericho mine would be a boost for the region, stimulating the local economy through procurement activities and additional trade with local suppliers.

“The North West Minerals Province continues to deliver more good jobs for Queenslanders and the critical minerals to power our state’s renewable energy transformation,” he said.

“The ripple effects of this new project will resonate far beyond the mine, boosting local and international copper supply for solar, wind and battery energy manufacturing, including Mount Isa’s copper smelter.

“It also means flow-on effects to places like Townsville which is part of the critical minerals supply chain.

“Prioritising and fast-tracking mineral extraction is a key action identified under the Queensland Critical Minerals Strategy, and that’s exactly what we’re doing.”

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