Aeris Resources has outlined its FY26 production targets, aiming for a 40-49kt copper equivalent output while advancing key projects and planning asset divestments to strengthen its balance sheet.
- FY26 production guidance of 40-49kt copper equivalent from two operations
- Plans to sell non-core North Queensland assets to simplify portfolio
- Debt repayment targeted by August 2026 supported by asset sales
- Focus on exploration and mine life extensions at Tritton and Cracow
- Advancement of Constellation project and strategic partnership pursuit for Stockman
Aeris Resources Sets Ambitious FY26 Production Targets
Aeris Resources, a mid-tier Australian base and precious metals producer, has released its operational and financial guidance for the fiscal year 2026, signaling a confident growth trajectory. The company expects to produce between 40,000 and 49,000 tonnes of copper equivalent, derived from its two producing operations and supported by three development projects. This guidance reflects a notable increase in copper output, particularly from the Tritton operation in New South Wales, which is forecast to deliver 24,000 to 29,000 tonnes of copper, a 37% improvement on the prior year.
Strategic Asset Sales and Debt Reduction
In a move to sharpen its operational focus and strengthen its financial position, Aeris plans to divest its non-core North Queensland assets, including the development-ready Barbara project. The sale is expected to unlock approximately $6.5 million in restricted cash tied to environmental bonds, in addition to sale proceeds. These proceeds will contribute to the company’s goal of repaying outstanding debt by August 2026, reducing financial leverage and enhancing balance sheet flexibility.
Exploration and Mine Life Extension Initiatives
Exploration remains a cornerstone of Aeris’s growth strategy, with an $18-23 million budget allocated for FY26. The company is ramping up underground drilling at Tritton, targeting resource extensions at key deposits such as Avoca Tank and Budgerygar. Similarly, at the Cracow gold mine in Queensland, Aeris is focusing on sustaining production through increased ore throughput and re-entering the Roses Pride mine to add new ore sources. These efforts aim to extend mine life and underpin long-term production stability.
Advancing Key Projects and Partnerships
The Constellation project, a significant upcoming copper and gold mine, is progressing with major capital expenditure expected to commence in FY27 following environmental and mining approvals. Aeris is also exploring strategic partnerships to unlock value at the Stockman polymetallic resource, which boasts a large, high-grade deposit but complex metallurgy. This approach could provide the technical and financial support needed to bring the project into production.
Financial Outlook and Operational Efficiency
For FY26, Aeris anticipates mine operating costs between $302 million and $369 million, with sustaining capital expenditure of $57 million to $70 million and growth capital of $65 million to $80 million. The company confirms no material changes to previously reported mineral resources and ore reserves, maintaining a solid foundation for its production and exploration plans. Additionally, Aeris is considering hedging strategies to manage commodity price volatility amid ongoing global economic uncertainties.
Bottom Line?
Aeris Resources is positioning itself for sustainable growth through disciplined asset management, targeted exploration, and strategic project advancement.
Questions in the middle?
- How will the divestment of North Queensland assets impact Aeris’s long-term growth prospects?
- What are the key risks and timelines associated with the Constellation project’s development?
- Could a strategic partner for Stockman accelerate its path to production or alter Aeris’s capital requirements?