Company Interview / Aeris adds a copper wagon to its mining train

Key points:

Aeris Resources to acquire Peel Mining to expand copper output in the Cobar BasinProduction set to move towards 30,000 tonnes of copper annually with extended mine lifeStrategic proximity of assets maximises use of existing processing infrastructurePeel Mining shareholders benefit from a 19% premium plus shares in a new exploration company

Aeris Resources has announced its intention to acquire Peel Mining, aiming to significantly boost copper resources in the Cobar Basin, New South Wales. Executive Chairman Andre Labuschagne states this move centres on enhancing the company’s copper production profile, supporting consolidation in a region known for stranded assets. Aeris Resources currently operates a copper mine in New South Wales producing around 24,000 tonnes annually, and the Peel Mining assets—two copper deposits totalling over 11 million tonnes—are expected to expand production capacity toward 30,000 tonnes per year and extend mine life by up to ten years.

Labuschagne highlights the strategic advantage of the mines’ proximity, which allows efficient transport and plant utilisation. The 1.8 million tonne processing plant is set to operate at near full capacity with the addition of the acquired deposits and Aeris’s own Constellation deposit, expected to commence production later in the year. The Mallee Bull deposit will further contribute, collectively ensuring a ten-year production window and maximising infrastructure value.

Addressing the acquisition terms, Labuschagne notes Peel Mining (ASX:PEX) shareholders will receive $0.19 per share, a 19% premium paid in Aeris Resources (ASX:AIS) shares, plus additional shares in a newly spun-out company focused on Peel’s gold and base metal exploration assets—offering shareholders a dual exposure to production and exploration potential.