MAC Copper to uplift output to 50 000 t/y by 2026
NYSE- and ASX-listed MAC Copper is targeting 23% production growth by 2026 as expansion projects at its CSA mine in Cobar, New South Wales, come on line over the next 18 months.
The company increased its output by 13% to 41 128 t at a C1 cost of $1.92/lb in 2024. CSA’s fourth-quarter production of 11 320 t at a C1 cost of $1.66/lb was the strongest-quarter yet under MAC ownership.
By 2026, MAC is targeting copper output of 50 000 t, reported CEO Mick McMullen on Wednesday.
Two key projects have been identified to increase CSA’s output. These include the QTS South Upper (QTSSU) project and Ventilation project that will be brought on line in the fourth quarter of this year, and the third quarter of 2026, respectively, he said.
The Ventilation project is designed to support increased mining activity to 1.7-million tonnes a year, improve access to lower mine levels and ensure operational longevity beyond the current reserve life.
The QTSSU deposit presents an opportunity for incremental copper production at CSA mine, representing an additional mining area not currently connected to the mine, located about 150 m below the surface. Drilling to upgrade this deposit from resource to reserve has been completed, with ore mining expected to start by the fourth quarter.
The first development cut was taken in the December 2024 quarter.
“MAC is positioned for growth and further operational improvements to drive costs down from what is already a highly competitive cost position. We have some exciting growth opportunities in the upper parts of the mine and as our drilling continues to expand the mineralised footprint we are pushing the Capital Vent project hard to unlock our mining potential at the lower levels of the mine,” commented McMullen.
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