Name of the Project
Woodlawn copper/zinc mine.

Location
New South Wales, Australia.

Project Owner/s
Develop Global, through its subsidiaries Tarago Operations, Tarago Exploration and Ochre Resources.

Project Description
Eighty per cent of the project is underpinned by reserves, with ore reserves of six-million tonnes at 2.8% copper and mineral resources of 11.3-million tonnes at 3.8% copper.

The production restart study completed on the project in April 2024 returned exceptional metrics, confirming the mine’s exceptionally strong financial and technical merits, based on an 850 000 t/y underground mine.

The mine plan estimates that Woodlawn will produce an average 12 000 t/y of copper and 36 000 t/y of zinc metal in payable streams over an estimated ten-year mine life, with life-of-mine payable metal of 80 000 t copper and 218 000 t zinc.

Woodlawn will use top-down, longhole open stoping using paste fill, as mining methods.

The mine, as well as processing and other infrastructure, is already in place.

Potential Job Creation
The mine workforce is expected to peak at 250.

Net Present Value/Internal Rate of Return
The pretax net present value is estimated at A$658-million, with a payback of less than two years.

Capital Expenditure
About A$42-million.

Planned Start/End Date
Not stated.

Latest Developments
Develop Global is advancing towards production at its Woodlawn copper/zinc mine, with the company awarding a key contract to GR Engineering Services (GRES) for the upgrade and recommissioning of the processing plant. The project is expected to start production by mid-2025.

The awarding of the contract has released a milestone payment of up to A$20-million to project vendor OMF Fund II (H), in line with the terms set out in the cooperation deed signed when Develop acquired the Woodlawn mine in February 2022.

The payment will be settled through a combination of cash and shares.

Develop MD Bill Beament has said that Woodlawn is on track to be fully funded through to production, with the finalisation of a prepayment/loan facility with commodities trading giant Trafigura expected in the coming weeks.

Key Contracts, Suppliers and Consultants
GR Engineering Services (upgrade and recommissioning of the processing plant).

Contact Details for Project Information
Develop, tel +61 8 6389 7400.