AIC Mines targets 27,000 tonnes copper production by FY29

• AIC Mines released its three-year production outlook for the combined Eloise and Jericho copper projects.
• The company reported that no additional funding is required for its planned Stage 2 expansion or underground development.
• The board updated completion timelines for its Stage 2 plant expansion to the December 2028 quarter, approximately two years earlier than previously planned.

AIC Mines (ASX:A1M) announced a three-year production outlook targeting up to 27,000 tonnes of copper in concentrate per year by FY29.

The outlook follows the company's recent June quarter report, which confirmed full-year FY26 copper production guidance had been met.

"This is an exciting period for the company, as it transitions from a small-scale single mine operation to a 1.5Mtpa dual mine operation producing over 25,000tpa copper in concentrate," said AIC Mines.

The group set FY27 production guidance at 17,500 to 18,500 tonnes of copper in concentrate with expected all-in sustaining costs ranging from $5.20 to $5.30 per pound.

Following the announcement, the AIC Mines share price was down at $0.605.

The company operates the Eloise underground copper mine in north-west Queensland and is developing the nearby Jericho deposit to supply additional ore feed.

To fund the site developments, the company recently expanded its Trafigura Prepayment Facility by US$50 million.