Aurelia Metals (ASX:AMI) has made strides in Q1 FY25, progressing its flagship Federation Mine while expanding its Peak processing plant in New South Wales. The company mined its first stope ore from Federation, a key milestone towards ramping up production to 600ktpa of lead-zinc ore over the next 18 months.
The official opening of the Federation mine was marked by Managing Director Bryan Quinn, who said, “This expansion phase is an important milestone for Aurelia and underscores the confidence we have in our infrastructure to deliver growth in our base metals business.”
To support increased throughput, Aurelia is investing $20m-$25m to upgrade the Peak processing plant to 1.1-1.2Mtpa. This expansion allows all Federation ore to be processed at Peak, eliminating the need to restart the Hera plant, which remains available for future opportunities.
Aurelia’s quarterly report highlighted continued cash generation, with a balance of $103.2m, despite $17.9m in growth capital expenditure at Federation. The company remains well-positioned to capitalise on strong base metal prices, as it works towards a final investment decision on further expansion plans later in FY25.