Develop Global Awards EPC Contract to GRES for Yitirrti
Key points
- Develop awarded A$275m EPC contract to GRES for Yitirrti processing plant
- Processing plant to have a capacity of 1.5Mt per annum
- Total capital cost of Yitirrti estimated at A$450m
Full summary
Develop Global Ltd has awarded GR Engineering Services Limited (GRES) a contract to design and build the processing plant for its Yitirrti Project. This major milestone ensures the Pilbara copper-zinc-silver project remains on track for production in the June quarter of 2028. The processing plant will have a nameplate capacity of 1.5Mt per annum and produce separate copper-silver and zinc concentrates. The total capital cost of the Yitirrti Project is estimated to be A$450m, including the processing plant. The project is forecast to generate strong financial returns, including an Internal Rate of Return of 37%, and have a payback period of just 23 months.
Guidance
Projected IRR of 37% and payback period of 23 months for Yitirrti
Outlook
Develop Global Ltd is on track to achieve production at Yitirrti by mid-2028, with strong financial returns expected.
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