The Board of Directors for Aurelia Metals has approved the development of the Great Cobar copper mine.  

The project involves the development of a satellite base metal and gold deposit located around 0.5 kilometres south east of Cobar, 1.5km north of the existing New Cobar Mine and 8km north of the existing Peak Mine. 

Aurelia Metals plans to fund the project internally and make use of existing infrastructure at Peak mine.

Copper ore from Great Cobar will be processed at the Peak mine plant, with the development of twin decline from Jubilee to Great Cobar set to start from July 2025. 

The news has been welcomed by local business.

Treasurer of the Cobar Business Association, Briana Coffey, says the re-development of the mine is a positive for locals and business.

"It's pretty well-known that mining is our biggest industry, otherwise we couldn't sustain a town of this size," she said.

"It gives us comfort in the longevity of our town, and gives confidence for other businesses around town for their investment into town too."  

The Great Cobar copper mine was originally founded in 1870. It was the biggest copper mine in Australia, with over 2000 employees engaged in mining, wood carting and smelting at its peak.   

Demand for copper soared during World War I, because it was used in brass bullets and shell cartridge casings.

Following the end of the War the price of copper collapsed internationally, leading to the closure of the mine on 16 March 1919.  

A feasibility study of the historic mine found it had an expected production of 77,000 tonnes of copper, 505,000 ounces of silver and 84,000 ounces of gold over an eight year mine life.  

The study also found the mine had significant exploration potential through underground drilling.  

Aurelia Metals Managing Director and Chief Executive Officer, Bryan Quinn, expressed confidence in the project.  

“By choosing to owner-operate the mine development, we continue to support our commitment to building a suitable fleet of fit for purpose equipment, and capable workforce with good operating practices that will deliver maximum shareholder value," said Quinn.  

“I am confident that the Great Cobar orebody will continue to grow beyond what we’ve modelled in this study. It has significant exploration potential that will only enhance the strong economics of the current project and is best tested from underground once we have accessed the orebody.”