Name of the Project
Jericho copper project.

Location
South of the Eloise processing plant in north Queensland, Australia.

Project Owner/s
AIC Mines.

Project Description
Development of Jericho will transform the high-grade Eloise underground copper mine, near Cloncurry, into a cornerstone asset for AIC.

Mining at Jericho will be less than at Eloise, as it is much shallower, starting below only 50 m of cover.

AIC Mines is targeting production of about 12 500 t/y of copper and 6 500 oz/y of gold in concentrate. The Jericho project provides a pathway to expanding production at Eloise to more than 20 000 t/y of copper and 7 500 oz/y of gold in concentrate. AIC has opted for an underground link drive directly from the Eloise decline for the project, as opposed to a covered boxcut and portal.

The link drive will start from the Eloise decline at 125 m below the surface and involves a 3 km drive. Expansion of the Eloise processing plant will further reduce operating costs through economies of scale and equipment improvements.

Potential Job Creation
The project will employ about 150 people during construction and then 100 new permanent employees when in production.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
About $50-million.

Planned Start/End Date
Construction is scheduled over a 24-month period.

Latest Developments
The Jericho Mining Lease was granted by the Queensland Department of Resources in May 2024. This approval allows for surface works at Jericho to start within a maximum area of 10 ha, and mine development activity to take place with a maximum of 20 people employed on site.

Jericho mining optimisation studies to reduce initial schedule risk and longer-term operational risk are being finalised. The major component of this work is the investigation of direct underground access to Jericho from the Eloise portal through a 3.6 km link drive.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
AIC Mines, email info@aicmines.com.au.