Aeris Resources has completed the divestment of its north Queensland copper assets to Dingo Minerals for approximately $14.5 million, comprising upfront cash, bond releases and production-linked payments.

First announced on October 27, 2025, Aeris has received the $5 million cash consideration payable under the asset sale agreement, with a further approximately $6.5 million released from cash-backed environmental bonds.

A final deferred payment of $3 million is payable within three months of Dingo achieving commercial production.

The divestment comes as Aeris reports a sharp uplift in profitability and cash flow for the first half of the 2026 financial year (FY26), underpinned by stronger commodity prices, disciplined cost control and a deleveraged balance sheet.

The company reported revenue of $306.3 million for the six months to December 31, 2025, up five per cent on the previous corresponding period, while cost of sales fell nine per cent to $212.8 million.

This drove a 57 per cent increase in gross profit to $93.5 million, with net profit after tax rising 62 per cent to $47.9 million, exceeding Aeris’ full-year FY25 result of $45.2 million.

“Execution of our financing activities provides breathing space for the business to focus on operational excellence and project development, including the Murrawombie open pit, Constellation and exploration,” Aeris executive chairman Andre Labuschagne said.

The company has also moved to strengthen its growth pipeline, acquiring Peel Mining’s South Cobar copper project in New South Wales (NSW) through a $214 million deal, securing full ownership of the Mallee Bull and Wirlong copper projects.

In parallel, Aeris recently secured development consent for its Constellation project in the wider NSW Cobar Basin, supporting future production growth.

The Constellation open-pit ore reserve includes a probable reserve of 2.3 million tonnes at 2.0 per cent copper, 0.6 grams per tonne of gold and 3 grams per tonne of silver.

The project hosts 47,000 tonnes of copper, 49,000 ounces of gold and 228,000 ounces of silver, with a total mineral resource of 7.6 million tonnes at similar grades.

The approvals and acquisitions position Aeris to strengthen its copper production pipeline as it reshapes its portfolio through divestments and targeted growth.

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