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Aic Mines (ASX: A1M) — Company Overview, News & Financial Data

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Company profile

Aic Mines

About

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Aic Mines is a growth-focused Australian resource company engaged in the exploration, development, and extraction of copper and gold assets. The company owns and operates the underground Eloise copper mine in North Queensland, producing copper concentrate with gold credits. It is actively developing the nearby Jericho copper project, situated four kilometres south of Eloise, which will feed ore into the expanded Eloise processing plant. Additionally, Aic Mines holds over 2,000 square kilometres of prospective exploration tenements in the Mt Isa and Cloncurry mining districts of Queensland.

Snapshot

Public AUOwnership
1993Year founded
201–500Employees
Subiaco, AustraliaHead office
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Global footprint

Operations

All Locations
Australia

Products and/or services of Aic Mines

  • Underground Copper Mining: Operational underground mine located 60 kilometres southeast of Cloncurry in North Queensland, utilizing longhole open stoping and sublevel caving to extract copper-gold ore, producing approximately 12,500 tonnes of copper annually.
  • Centralized Mineral Processing: On-site processing plant in North Queensland that treats run-of-mine ore through crushing, grinding, and flotation circuits to produce high-grade copper concentrate containing valuable gold credits for commercial export.
  • Near-Mine Copper Development: Underground development project situated four kilometres south of primary processing infrastructure, accessed via underground decline to deliver additional high-grade ore and expand annual processing capacity above 20,000 tonnes of copper.
  • Regional Mineral Exploration: District-scale exploration program across 2,000 square kilometres of prospective tenements in the Mount Isa region, targeting iron-sulphide-copper-gold mineralized systems to extend operational mine life and identify new resources.
  • Copper Concentrate Commercialization: Production and marketing of physical copper concentrate extracted from North Queensland mining operations, serving as the primary commercial revenue generator through supply contracts with industrial smelters and commodity trading partners.
  • Precious Metal Byproduct Sales: Secondary recovery and commercial delivery of byproduct gold recovered during copper mineral processing, generating supplementary revenue streams that offset operational expenses and lower net cash costs per pound of copper produced.

Aic Mines executive team

  • Mr. Aaron Mark Colleran B.Com., B.E., BCom Finance, BEng Geology, M.A.I.C.MD, CEO & Director
  • Mr. John CallagherChief Financial Officer
  • Mr. Tim Benfield Dip CSM, MAusIMM, MBAChief Operating Officer
  • Ms. Audrey FergusonCompany Secretary