AIC copper growth and Eloise mine plans: key project notes for engineers
Reviewed by Tom Sullivan

First reported on Australian Mining
30 Second Briefing
AIC Mines reported first-half FY25 revenue of $110.6 million, driven by higher copper production and stronger pricing from its Eloise underground mine in north-west Queensland. The company is advancing its Jericho copper deposit, located about 4km from Eloise, with plans for an underground decline to access higher-grade ore and extend mine life. Management signalled further capital investment in processing upgrades and regional exploration around the 1.5Mtpa Eloise plant, aiming to lift throughput and reduce unit costs.
Technical Brief
- For similar brownfields mining hubs, close-proximity satellite orebodies materially reduce unit haulage and processing costs.
Our Take
AIC Mines’ A$110.6 million revenue from the Eloise mine sits against a backdrop where our recent copper coverage is dominated by majors like Rio Tinto ramping Oyu Tolgoi and other growth projects, underscoring how mid-tier Australian copper producers must differentiate via cost control and mine-life extensions rather than sheer scale.
With copper featuring across multiple recent pieces in our database – from Rio Tinto’s exploration-heavy pivot to Gold Fields’ copper-linked M&A – Eloise’s performance suggests that established Australian underground copper assets remain strategically valuable even as capital and attention skew toward very large, long-life deposits.
Among the 1082 Mining stories and 1717 copper-tagged items in our coverage, relatively few focus on single-asset operators like AIC Mines, which typically face higher exposure to grade variability and downtime at mines such as Eloise, making consistent half-year results an important signal for lenders and potential partners.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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