CLONCURRY: Austral Resources Australia (ASX:AR1) has announced a transformative acquisition of Copper Resources Australia Pty Ltd, securing ownership of the Rocklands Copper Mine and its 3.0Mtpa processing facility in North-West Queensland.
The binding agreement marks the first major milestone in Austral’s regional copper consolidation strategy, positioning the company as a dominant player in the Mount Isa-Cloncurry copper belt. The Rocklands facility will serve as a copper sulphide processing hub, complementing Austral’s existing oxide operations at Mt Kelly and Lady Annie, and expanding its footprint into copper-gold mineralisation.
“This acquisition is not just opportunistic — it’s transformational,” said Austral Chairman David Newling. “Rocklands gives us immediate processing scale, derisked growth optionality, and is a pivotal milestone in building the next-generation copper platform.”
The transaction will be funded through a combination of offtake-linked financing with Glencore AG and a broader capital raise. Post-raise, Rocklands shareholders are expected to hold at least 9.9% of Austral’s issued capital. Austral will also issue 21 million conditional options subject to participation thresholds in the capital raise.
Strategic benefits include near-term restart capability, access to defined resources with underground viability, and integration synergies from diversified feedstock across Austral’s Eastern Isa assets. Rocklands’ existing infrastructure, valued at $443 million, enables immediate leverage and supports future phases of exploration and processing expansion.
Austral expects shareholder approvals and ASX re-quotation to follow in the coming months, with Bell Potter Securities acting as corporate adviser.