Aeris Resources Limited (ASX: AIS), an Australian mid-tier copper and gold producer, today announced the Supreme Court of New South Wales has approved the scheme of arrangement for its acquisition of Peel Mining Limited. Aeris Resources operates two producing assets, Tritton Copper Operations in New South Wales and Cracow Gold Operations in Queensland. The Scheme is set to become effective on 22 June 2026, with implementation on 1 July 2026, involving the issuance of new Aeris shares to Peel shareholders. Aeris Executive Chairman, Andre Labuschagne, stated the acquisition is “a major milestone for Aeris and will underpin the future of our Tritton copper operations,” welcoming Peel shareholders and aiming to further position Aeris as a leading Australian copper producer.
This strategic acquisition significantly enhances Aeris’s Tritton Copper Operations by integrating the South Cobar Copper Project, encompassing the Mallee Bull and Wirlong Projects. These projects collectively contribute combined copper resources of 197kt Cu, substantially expanding Aeris’s resource base in the Cobar region. Mallee Bull, a large-scale, advanced project, will be prioritised as a near-term, high-grade ore source for Tritton’s +1.8Mtpa processing plant. This integration is anticipated to establish Tritton for extended operational life with improved production rates. The Mallee Bull resource is well-defined, with 88% classified in the Indicated category.
Aeris expects to release a maiden Ore Reserve estimate for Mallee Bull in Q1 FY27, which, with updated Ore Reserves for other Tritton deposits, will inform an updated long-term mine plan due early FY27. While Mallee Bull has existing exploration decline approvals, additional production permitting is a priority, estimated for completion in FY29 to enable first ore that financial year. The Wirlong deposit, a prospective exploration project with 75kt Cu metal, offers potential as another future ore source for the Tritton mill; resource drilling and mining studies are underway. These additions are poised to bring significant benefits in scale, grade, and cost efficiencies to Tritton, ensuring stable, long-life operations.
