Evolution looking to unlock increased copper recoveries at Northparkes via coarse particle flotation project
Evolution Mining has announced board signoff of a number of projects across its portfolio, including a coarse particle flotation project that it believes could boost copper recoveries at its Northparkes mine, in New South Wales, Australia.
Managing Director and Chief Executive Officer, Lawrie Conway, said: “Our capital allocation has always been disciplined around investing in projects that generate high rates of return and are timed appropriately for the business needs. The investments announced today are expected to deliver returns in the range of 23% to 48%, which is higher than our current portfolio’s average return of 18%.
“Following record half year financial results, we are well positioned to sustain higher returns and deliver ongoing value for shareholders.”
Evolution’s Board has approved development of the E22 block cave at Northparkes with a capital investment of A$545 million ($388 million), establishing a long‑life, low‑cost bulk underground operation. The project is a key pillar of Northparkes’ long‑term operating strategy, ensuring continuity of underground ore to maintain throughput, cost competitiveness and a durable production profile, the company says. First ore is expected to be produced from the end of the 2030 financial year. The block cave is expected to operate for approximately nine years, enabling some 6 Mt/y steady‑state underground production and efficient utilisation of the processing plant.
The updated feasibility study has materially de‑risked delivery through optimised access, ventilation and materials‑handling design, including a twin‑decline configuration, revised ventilation approach and four tipping points improving crusher productivity. These improvements enhance constructability, productivity and schedule confidence.
E22 is underpinned by an ore reserve that provides a robust foundation for long-life bulk underground production at Northparkes.
The Northparkes Coarse Particle Flotation Project, meanwhile, will have a capital investment of circa-A$75 million in the flotation and dewatering areas and is expected to increase concentrate-grade adjusted copper recovery by circa-2% at current throughput rates (FY25: circa-7.3 Mt/y 100% basis), as well as improving energy efficiency and enabling increased throughput to 8 Mt/y without recovery losses. Commissioning is expected to be completed in the second half of the 2028 financial year.
In 2025, Evolution carried out a concept study to identify potential long-term value opportunities at Northparkes. Northparkes has a significant Mineral Resource of 600 Mt, with some 7.4 Mt processed in the 2025 financial year. The study outcomes indicated that Northparkes has material long-term value upside, underpinned by opportunities to increase processing scale. Subsequent to the completion of the concept study, the Board has approved the Northparkes Expansion Study to progress, with completion expected in FY27. The study will evaluate the viability of increasing the processing capacity to 10 Mt/y or more. Capital expenditure for the project is expected to total A$14 million, inclusive of a mill expansion prefeasibility study and supporting individual mining studies.
Currently, the preferred development pathway is a staged growth strategy, balancing capital efficiency and maintaining flexibility.
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