BWA | JUL 2026 125 2025 with first ore targeted in FY28. That matters because Great Cobar is not being developed as an isolated satellite. Aurelia’s own explanation is that the project has been sequenced to ramp up as Peak South ramps down, helping keep the Peak processing facility full and improving the copper weighting of the broader business. In its FY25 annual report summary, the company said Great Cobar and Federation together underpin a targeted pathway to about 40,000 tonnes per annum of copper-equivalent production by FY28. The processing side of the strategy is just as important. Aurelia’s Cobar Basin optimisation work is designed to lift effective throughput at the Peak plant from about 800ktpa to 1.1–1.2Mtpa, enabling ore from Federation, Peak South and New Cobar, including Great Cobar, to be processed through a larger and more efficient central plant. The August 2025 optimisation update also outlined crushing and materials-handling upgrades that tie directly into the expanded throughput plan. That combination gives the business a more coherent industrial shape than a simple list of mines might suggest. Aurelia is not just mining separate deposits around Cobar; it is trying to turn a district-scale land position into a more integrated base-metals platform built around shared processing infrastructure, staged mine sequencing and brownfields expansion. That is one reason the profile feels stronger than a standard mid-tier miner narrative. The partner layer is also becoming more visible. In October 2024, Aurelia announced a three-year mining services contract with Redpath Australia, showing the company’s willingness to combine internal planning and ownership of strategic assets with specialist
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