Revolver Resources (ASX:RRR) has secured a significant boost for its Dianne Copper Mine Project, receiving a $1.3 million grant from the Queensland Critical Minerals and Battery Technology Fund (QCMBTF). This funding injection will expedite the project’s development, allowing Revolver to focus on key technical and design workstreams. Revolver Resources is an Australian-based exploration company focused on discovering and developing mineral resources. The company’s primary focus is on copper and other base metals projects in Queensland.
Having met the grant’s engineering design and scope deliverables, Revolver is now positioned to advance the Dianne Copper Mine Project towards its goal of producing copper cathode in the first half of 2026. A final investment decision is anticipated in the coming months, marking a critical step forward for the project. The Dianne Copper Mine Project, located 260km northwest of Cairns, previously yielded 63,758 tonnes of copper ore with a high average grade of 22.7 per cent.
Managing Director Pat Williams expressed the company’s gratitude for the QCMBTF’s support, emphasising the crucial role of the non-dilutive financing in unlocking the feasibility pathway for recommencing mining operations at Dianne. Williams stated that the grant has placed Revolver and the Dianne Copper Mine Project in the best possible position to restart copper production and contribute a new Australian-based supply of this critical metal.
Copper’s importance in the global transition to Net Zero cannot be overstated, as it is a vital component in decarbonisation technologies. With the price of copper currently at US$4.87 per pound and demand expected to double by 2050, the Dianne Copper Mine Project has the potential to play a significant role in meeting the growing global demand for this essential commodity.
