KGL Approves FID for Jervois Copper Project in the NT

KGL Resources (ASX:KGL)' board approved a Final Investment Decision for the Jervois Copper Project in the Northern Territory, moving it into full execution with first concentrate still targeted for the first half of calendar 2028.

The company says total capital costs, allowing for scope changes and present-day pricing, remain consistent with the estimate in its Baseline Economic Model released on 24 April 2026, and that around 60% of the Project's total cost is already under executed contracts. KGL describes Jervois as fully funded from existing cash reserves, Wheaton Precious Metals proceeds and recently raised equity. Work since the BEM includes signing the Sedgman Engineering, Procurement and Construction contract in September 2026, commitments for long-lead equipment including grinding mills, flotation cells and the IsaMill, and site works including the construction village. Construction from FID to practical completion is to be followed by a six-month ramp up to full plant processing capacity during 2028. KGL says the Project has an initial 10-year mine life and is expected to produce approximately 30,000 tonnes of copper per annum at steady state, with silver and gold by-products.

The release does not state the capital cost figure. The funding position and the Wheaton proceeds are subject to Conditions Precedent from the April 2026 streaming agreement, and tendering continues for major construction packages including the water pipeline, civil works and accommodation village.