Article

Develop Global has announced strong operational and financial results for the December quarter, achieving successful commissioning at its Woodlawn copper/zinc mine in New South Wales, where it is on track for steady-state production by March. The company processed 59,000 tonnes of ore in December, aiming for a nameplate capacity of 850,000 tonnes per year.

Quarterly revenue increased by 98.5% to A$39.1 million from 9,472 tonnes of concentrate sales, with copper and zinc production rising by 36% and 43%, respectively. Net smelter return revenue per tonne rose 40% to A$470, improving the financial outlook.

Develop's five-year plan targets annual production of 50,000 tonnes of copper-equivalent metal. The Mining Services division secured a A$200 million contract with OceanaGold for the Waihi North project in New Zealand.

Additionally, Develop is exploring opportunities at its Pioneer Dome lithium project in Western Australia, with potential first production within six months at a capital cost of A$35 million to A$40 million. The group reported record external revenue of A$94.6 million and cash of A$179.9 million as of December 2025.