TElfer
Overview
Telfer is an operating gold-copper mine located in the Paterson Province of the East Pilbara region in Western Australia, approximately 1,300km northeast of Perth and 485km east-southeast of Port Hedland. Telfer first produced gold in 1977 and has produced more than 15Moz of gold to date.
Greatland acquired 100% ownership of Telfer from Newmont Corporation on 4 December 2024.
Telfer is a fly-in fly-out mine with both open pit and underground mining operations, an established workforce and significant infrastructure. Gold and copper is produced by a large processing facility comprising two 10Mtpa capacity trains, totalling 20Mtpa in nominal capacity, that produces gold doré, copper-gold concentrate and gold middlings high-grade concentrate.
Telfer is currently mining from the West Dome Open Pit and Main Dome underground using contractors.
Telfer’s strategic positioning in the Paterson region, with existing infrastructure and processing capacity, de-risks, expedites and reduces the cost of completing Havieron’s development. As the only operating processing infrastructure in the Paterson region with surplus capacity, Telfer enables a ‘hub and spoke’ strategy to incorporate accretive regional opportunities.
Mineral Resource and Ore Reserve
Mineral Resource
The Telfer Resource Estimate is reported in accordance with the principals and guidelines of the JORC Code, 2012 Edition.
Notes:
– Mineral Resources are reported as at 31 December 2025, with the exception of the West Dome Open pit that is Reported as at 31 March 2026.
– Grades are reported to two decimal places to reflect appropriate precision in the estimate, and this may cause apparent discrepancies in totals.
– Cut-offs for the Telfer MRE are applied based on a NSR using metal prices of A$4,200/oz Au and A$6.50/lb and current site cost and revenue assumptions.
– Between 1 January 2026 and 31 March 2026, a total of 4.7Mt at 0.61g/t Au and 0.12% Cu for 93koz gold and 3.9kt copper were depleted from Resources through active mining or processing of stockpiles:
- 3.6Mt at 0.49g/t Au and 0.07% Cu for 57koz gold and 1.8kt copper in the West Dome Open pit.
- 0.8Mt at 0.59g/t and 0.06% Cu for 16koz gold and 0.6kt of copper have been depleted from stockpiles.
- 315kt at 2.08g/t Au and 0.80% Cu for 18.8koz gold and 2.5kt copper in the Main Dome Underground.
Ore Reserve
The Telfer December Ore Reserve estimate is reported in accordance with the principals and guidelines of the JORC Code, 2012 Edition.
Notes:
– Grades are reported to two decimal places to reflect appropriate precision in the estimate, and this may cause apparent discrepancies in totals.
– The ORE is reported for contained Measured and Indicated Mineral Resource material delivered to the Run-of-Mine (ROM) pad, stockpiles and dump leach pads, and excludes concentrate already produced and gold in circuit in the Telfer process plant.
– Cut-offs for the Telfer ORE are applied based on a variable break-even calculation using net smelter return (NSR), medium-term metal prices of A$4,000/oz Au and A$6.00/lb Cu and current site cost and operating conditions specific to each ore source. Open pit and underground ore are co-processed through the current Telfer processing plant:
- West Dome Open Pit: Conventional truck and shovel open pit, ranging $16.7–25.3/t processed, 78–81% gold and 65-78% copper recoveries.
- Main Dome Underground: Longhole open stoping mining method with stope widths ranging from narrow reef to bulk stockwork stopes. Cut-offs range from $51/t for bulk stoping variable cost to $158/t processed fully costed for narrow reef stoping. Metallurgical recoveries average 90% gold and 94% copper.
- Dump Leach: Conventional dump leach, $4.9/t average leach cost with 30–50% gold recovery. No copper is recovered from dump leach material.
- Stockpiles: Conventional truck and loader rehandle, ranging $16.4–17.4/t processed, 78–86% gold and 50–65% copper recoveries.