True North Copper (ASX: TNC) is progressing with its Cloncurry Copper Project (CCP) in Queensland, targeting copper production by Q1 2025. Mining activities at the Wallace North deposit, which began in July, have resulted in 223,000 BCM of overburden and 22,000 tonnes of oxide ore being mined. To date, 8,300 tonnes of ore have been crushed and stacked on the leach pad, with irrigation now underway to improve copper extraction through the Solvent Extraction (SX) plant.
TNC has established offtake and toll milling agreements with Glencore, with sulphide processing expected to start early next year. The project is forecast to generate around AU$200 million in free cash flow over its 4.6-year life. To support ongoing operations, the company is hiring 28 additional employees by mid-November. Located 2 km from Cloncurry, the operations hub (COH) provides key infrastructure, including leach facilities and mine support. TNC is on track with its milestones and expects to share more updates soon.
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