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The latest update is out from GR Engineering Services Ltd ( (AU:GNG) ).
AIC Mines has awarded an engineering, procurement, and construction contract to GR Engineering Services for the expansion of the Eloise processing facility to a 1.1Mtpa throughput capacity at a fixed cost of $77.6 million. The expansion is designed to minimize disruption to current operations and is scheduled to begin construction in October 2025, with commissioning expected by December 2026. This expansion aligns with the ramp-up in production at the Jericho deposit and is forecasted to increase annual copper production to over 20,000tpa by FY28.
More about GR Engineering Services Ltd
AIC Mines is an Australian resources company focused on growth through the exploration, development, and acquisition of gold and copper assets. The company owns the Eloise copper mine in North Queensland and is advancing exploration projects for copper and gold.
Average Trading Volume: 158,925
Technical Sentiment Signal: Buy
Current Market Cap: A$527.2M
Learn more about GNG stock on TipRanks’ Stock Analysis page.