Eva copper project, Australia – update
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Name of the Project
Eva copper project.
Location
Northwest Queensland, Australia.
Project Owner/s
Mining group Harmony Gold Mining Company.
Project Description
The project is high-margin, long-life asset.
The proposed low-strip ratio openpit development is expected to produce about 65 000 t/y of copper in concentrate during the first five years, with an expected life-of-mine average production profile of about 60 000 t/y of copper and 19 000 oz/y of gold.
This will be achieved by processing an average of 18-million tonnes a year of ore over its currently estimated 15-year mine life.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
In the base case, the project has an after-tax net present value A$445-million and an internal rate of return 11%, with a payback from the final investment decision (FID) of seven years.
Capital Expenditure
Project capital is estimated from $1.55-billion to $1.75-billion. The capital profile remains highly manageable, with expenditure phased over a three-year construction period.
Planned Start/End Date
First production is expected in the second half of calendar year 2028, subject to environmental authority amendments.
Latest Developments
The engineering, procurement and construction contractor has been appointed and is expected to mobilise to site during the March 2026 quarter.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Harmony Gold Mining Company, email HarmonyIR@harmony.co.za.
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