Skip to content
Business Company News, Oil Mining Resources

Austral Resources Announces Strategic Alliance with New Frontier Minerals

Jane Morgan Management 2 mins read

SYDNEY, AUSTRALIA: 21 January 2025,  Australian copper producer and explorer, Austral Resources Australia Ltd (ASX: AR1), is pleased to announce the signing of a Memorandum of Understanding (MOU) with New Frontier Minerals (ASX: NFM) to form a strategic alliance. This collaboration aims to enhance production at Austral’s Mt Kelly processing facility through the potential processing of copper ore supplied by NFM.

Under the agreement, Austral will work closely with NFM to evaluate the suitability of ore from NFM’s NWQ Copper Project, including the Big One Deposit (Mineral Resource Estimate: 2.1Mt @ 1.1% Cu), for processing at the Mt Kelly facility. The alliance represents an opportunity to leverage both companies' assets and expertise to unlock significant value from the Mt Isa copper belt region.

Austral Resources’ Chairman, David Newling, commented:
"I would echo the comments of (NFM Chairman) Ged in relation to the positive outcome for both groups from this MOU. Whilst there is still some metallurgical work yet to be completed in relation to suitability of NFM’s ore for the Mt Kelly processing facility, the MOU is demonstration that the Company has assets that are attractive to third parties, and we would welcome others to the table as well.

The Mt Isa region is primed for consolidation in the copper industry, and Austral remains focused on these opportunities where it has the potential to add significant value for shareholders."

The alliance includes a framework for potential ore processing agreements, metallurgical test work, and further exploration to assess other prospective copper deposits within NFM’s project areas. The partnership not only facilitates a path to production for NFM but also allows Austral to potentially secure a new, consistent source of copper ore feedstock.

This agreement reinforces Austral’s commitment to maximising the value of its assets while contributing to the consolidation of the Mt Isa copper belt region.


Contact details:

Jane Morgan 
Investor and Media Relations 
jm@janemorganmanagement.com.au

Media

More from this category

  • Business Company News, Finance Investment
  • 14/02/2025
  • 16:20
Visby Management

Visby Management Doubles Initial Cash Payment Above Tiger Gold Offer For LCL Resources Colombia Assets

Visby Management February 13, 2025 On February 11, 2025 Visby Management (“Visby”), an international mine operator with operations in Colombia, made two binding offers to Los Cerros Limited (“LCL”) for the purchase of the company’s Andes and Quinchia Colombia assets. Offer A is a $6,000,000 AUD all-cash offer with the full amount to be paid within one year. Offer B is a cash and stock offer identical to the offer made by Tiger Gold Corporation with an additional $1,000,000 AUD up-front payment. The total up-front payment offered by Visby in Offer B is $2,000,000 AUD. Visby requested that both offers…

  • Industrial Relations, Oil Mining Resources
  • 14/02/2025
  • 13:46
Mining and Energy Union

Tahmoor needs a reliable, reputable owner: MEU

The Mining and Energy Union welcomes news that billionaireSanjeev Gupta is preparing to sell the Tahmoor Colliery operated by SIMEC, a subsidiary of the Gupta Family Group Alliance. Workers at Tahmoor underground mine in NSW have been off work since last Friday after operations were halted due to the group’s financial woes. The mine employs up to 700 workers including direct employees andcontractors. MEU South Western District President Bob Timbs said Tahmoor needs a reputable owner that can operate the valuable asset reliably and safely. “Tahmoor has a loyal workforce and an excellent track record. It produces high-quality steel-making coal…

  • Business Company News, Women
  • 14/02/2025
  • 12:17
Belmont Business Forum

EMPOWER WOMEN, BUILD SKILLS, CREATE CHANGE WITH THE BEC VOLUNTEER EMPOWERMENT PROJECT

We are excited to announce the launch of the BEC Volunteer Empowerment Project - a new initiative designed to empower women by providing free online training, mentoring, and networking opportunities. The project aims to focus on increasing skills, self-development, and economic awareness for women from diverse backgrounds. So, if you're passionate about supporting women’s empowerment, we invite you to get involved! You will be able to engage in a variety of impactful topics, including: The BEC Volunteer Empowerment Project specifically targets volunteers and women from culturally and linguistically diverse, disabled, Indigenous, and other vulnerable groups with the goal to upskill…

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.