KGL Resources said its board has approved the final investment decision for the Jervois Copper Project. The company said the target date for first concentrate production remains the first half of calendar 2028.
The company said total project capital costs, including scope changes and present-day pricing, remain consistent with its Baseline Economic Model estimate. KGL said funding comprises cash reserves, Wheaton Precious Metals proceeds and recently raised equity, subject to conditions precedent detailed in an April 2026 announcement.
KGL said about 60% of the project’s total cost is covered by executed contracts, and said the FID reaffirmed the economics outlined in its Baseline Economic Model.
Engineering and design work for the processing plant has advanced, while commitments have been made for long-lead equipment including grinding mills, flotation cells and an IsaMill. KGL said its Sedgman engineering, procurement and construction contract was agreed and signed in September 2026.
KGL said construction from FID to practical completion is expected to be followed by a six-month ramp-up to full processing capacity during 2028. The company’s project schedule indicates open-pit mining is to commence in mid-2027, with underground development from 2029.
Source: Download KGL official ASX announcement, 2026-10-15.
Drilling at the Jervois site, from KGL Resources’ company announcement dated 15 October 2026.