Aeris Resources Divests North Queensland Copper Assets for $14.5M, Strengthens Growth Pipeline with Constellation Project
Aeris Resources has sold its north Queensland copper assets to Dingo Minerals for approximately $14.5 million. The deal includes $5 million in cash, $6.5 million from bond releases, and a deferred $3 million payment linked to production. The divestment occurs as Aeris reports a 62% increase in net profit for FY26, driven by higher commodity prices and improved cost management. Additionally, Aeris has acquired Peel Mining's South Cobar project for $214 million and secured development consent for its Constellation project, enhancing its copper production pipeline.
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Aeris Resources has divested its north Queensland copper assets to Dingo Minerals for about $14.5 million, receiving $5 million in cash and $6.5 million from bond releases. A $3 million deferred payment will follow Dingo achieving commercial production.
The divestment coincides with Aeris reporting a 62% increase in net profit for the first half of FY26, with $306.3 million in revenue, up 5% year-on-year. Aeris also purchased Peel Mining's South Cobar copper project for $214 million and gained development consent for its Constellation project, which has an ore reserve of 2.3 million tonnes at 2.0% copper.
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