Greatland Approves $765 Million Havieron Gold-Copper Project
By Rhiannon Hoyle
Greatland Resources said it has approved the development of the US$765 million Havieron gold and copper project in Western Australia, while executing a corporate debt facility that will help fund construction of the mine.
Perth-based Greatland said the final investment decision on the Havieron project follows state and federal primary environmental approvals. Development will begin after certain secondary environmental approvals are granted, it said.
A feasibility study estimated the project would cost 1.065 billion Australian dollars, or US$765 million, to reach first gold. Greatland forecast a further A$673 million in expansion capital expenditure, expected to be largely funded by later cash flow from Havieron.
"Given the strength of Greatland's balance sheet, there will be the option to consider opportunities to accelerate elements of the expansion capex in the future where they de-risk project delivery and schedule," the company said.
Greatland said it has executed a A$500 million corporate debt facility agreement with a syndicate of ANZ Group, ING, HSBC, National Australia Bank and Westpac. A binding commitment letter was signed in December.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
May 31, 2026 20:00 ET (00:00 GMT)
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