20974 29Metals AR23 WEB V1 - Flipbook - Page 14
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29Metals 2023 Annual Report
Our vision & strategy
To be a leading ASX-listed copper producer, developer
and explorer, offering investors exposure to attractive
market dynamics for copper and other metals critical
to the global energy transition.
Progress against our strategy
Our strategy is focused on delivering against our operating plan and converting our pipeline
of organic growth opportunities. Operating and financial results delivered in 2023 reflect
the direct and indirect impacts of the Extreme Weather Event at Capricorn Copper1 .
Execute Our Plan
Deliver Organic Growth
External Growth
Execute our plan
Opportunities
Progress in 2023
Priorities in 2024
Deliver operating
plan and continuous
improvement
Reduced incidence of
minor injuries with TRIFR
■
6.5/mwhrs
Con琀椀nued improvement in development
and produc琀椀on rates at Xantho Extended,
29Metals’ highest grade ore source at
Golden Grove
Con琀椀nued focus on cost management and
capital discipline, linking to remunera琀椀on
outcomes for Leaders
Enhance Group access to liquidity
34% improvement
■
Copper
production
24.2kt
■
Increase in copper production (>7%)
at Golden Grove, offset by lower
production at Capricorn Copper
Zinc
production
51.5kt
Completion of debottlenecking projects
to support higher Xantho Extended
mining rates
Following the decision to suspend mining
and milling opera琀椀ons at Capricorn Copper,
29Metals’ has commenced planning to restart
opera琀椀ons as soon as possible. Key drivers of
a successful restart are expected to be:
■
■
■
Completed TSF 3 lift at Golden Grove
with applications submitted for TSF 4
■
reducing water inventory held on site
and further enhancing resilience;
establishing long terms tailings
storage capacity;
new water treatment plant; and
enhance produc琀椀vity and reduce costs.
Refer to
Revenue
page 3
$450m
Achieved approximately $20 million
in sustainable cost improvements
during the year
Successful completion of phase 1
of the Recovery Plan2
Our strategic
enablers
Highly experienced
Board and
Management team
track record of value crea琀椀on,
and safe and e昀케cient opera琀椀ons
High-grade, long
mine life copper
portfolio
complemented by diversi昀椀ed
by-product revenue
Substantial
pipeline of
organic growth
opportunities
across the por琀昀olio