Mount Lyell Copper Project

100%-owned copper development project at the historic Mount Lyell mine in Tasmania. Completion of a feasibility study in 2025 resulted in a maiden Mineral Reserve of 478kt of contained copper, with Mineral Resources of 882kt declared in the AUS copper projects category. Principal stakeholder matters raised during the year relate to the potential reopening of the mine, and project risk registers note dependence on Mt Lyell pumping infrastructure. The project is currently excluded from several assured Group sustainability KPI boundaries pending integration.