Exploring the Copper Supply Gap: Insights from Central Queensland Projects

The demand case for copper is settled.

EVs. AI data centres. Grid electrification. It's in every forecast.

Andrew told Stockhead the question investors should actually be asking is the one with no clean answer: where does the new supply come from?

J.P. Morgan models a 330,000 tonne deficit for 2026 alone. S&P Global puts average mine lead times at 15 to 17 years from discovery to first production. The gap between what the world needs and what's being built is not closing on its own.

That is the context for what we are doing in Central Queensland. Mt Chalmers DFS is underway. Develin Creek was restated in March at 4.70Mt at 0.94% Cu and 1.00% Zn, up 14%, with 90% in the Indicated category. These are projects building toward the supply side of the equation.

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