Develop Global Expects Production at New South Wales Mine to Resume Next Year

MT Newswires Live

2024/10/28

Develop Global (ASX:DVP) expects to resume production at the Woodland copper-zinc mine in New South Wales by mid-2025 following a $65 million offtake deal with commodities trader Trafigura, according to a Monday filing with the Australian bourse.

The prepayment/loan facility will be used to upgrade the mine's processing plant, which is now 33% complete, the filing said.

The mining and mining services firm reported revenue of AU$52.7 million from its underground mining services division, the filing added.

The stock closed up almost 1% on Monday.

Price (AUD): $2.46, Change: $+0.020, Percent Change: +0.82%

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