Anax Metals (ASX:ANX) investors: register your interest in hearing from Anax Metals management at a 708 investor lunch, in your capital city or online.
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Anax Metals is a Perth-based mineral development company focused on copper and zinc at its Whim Creek Project in the Pilbara region of Western Australia. Formerly named Aurora Minerals, Anax Metals holds an 80% interest in the Whim Creek Copper-Zinc Project, about 120 km south-west of Port Hedland, through an 80/20 joint venture with Develop Global Limited. It acquired its interest in late 2020. The project contains four deposits with JORC 2012 resources: Whim Creek, Mons Cupri, Salt Creek and Evelyn. Anax Metals says it has increased these resources by over 57% since acquiring the project.
Anax Metals updated its April 2023 Definitive Feasibility Study (DFS) in February 2026. The study reports Ore Reserves of 4.6 Mt at 1.36% Cu, 2.31% Zn and 0.67% Pb and an initial 10-year mine life. Mons Cupri and Whim Creek are proposed as open pits, with Salt Creek and Evelyn mined underground. Ore would be upgraded by X-ray transmission ore sorters and gravity separation before feeding a new 400 ktpa concentrator. The update gives pre-production capex of $77M, a pre-tax NPV (7%, real) of $501M and an IRR of 98% on base case prices. The open pits and processing infrastructure were fully permitted as of August 2023.
Anax Metals also plans to run a refurbished heap leach facility alongside the concentrator to produce copper cathode and zinc sulphate. Column test work at CSIRO in June 2023 achieved 80% copper and 90% zinc extraction. A September 2023 scoping study set a heap leach production target of 2.19 Mt at 0.54% Cu and 0.71% Zn. The company aims to use Whim Creek as a processing hub for the West Pilbara. In 2024 it began a scoping study with Develop on Sulphur Springs oxide ore and signed MOUs with GreenTech Metals over the Whundo deposit and with Artemis Resources over the Greater Carlow resource.
Anax Metals continues to explore across its Pilbara ground. At Loudens Patch, east of Whim Creek, rock chip sampling returned gold up to 0.5 g/t Au and mapping confirmed pegmatites up to 600 m in strike. The company has also identified gold, lithium, nickel-cobalt and platinum group element targets on the Whim Creek tenure. Anax Metals is listed on the ASX under the code ANX.
Anax Metals’ main projects and operations, as described on its website:
About 120 km south-west of Port Hedland, Central Pilbara, Western Australia
An 80/20 joint venture between Anax Metals and Develop Global Limited covering the Whim Creek, Mons Cupri, Salt Creek and Evelyn copper-zinc deposits. A February 2026 update to the April 2023 DFS reports Ore Reserves of 4.6 Mt at 1.36% Cu, 2.31% Zn and 0.67% Pb and an initial 10-year mine life.
Whim Creek, Pilbara, Western Australia
A proposed heap leach operation using refurbished, permitted infrastructure to treat oxide, transitional and low-grade sulphide ore in parallel with the concentrator. A September 2023 scoping study set a production target of 2.19 Mt at 0.54% Cu and 0.71% Zn, producing copper cathode and zinc sulphate.
Whim Creek, West Pilbara, Western Australia
A proposed processing hub with crushing and ore sorting, a new 400,000 tonnes per annum concentrator and a refurbished heap leach facility. Anax Metals is assessing third-party ore from Sulphur Springs, Whundo and Greater Carlow through a scoping study and MOUs signed in 2024.
Adjacent to the east of the Whim Creek Project, Pilbara, Western Australia
An exploration tenement in Archean Mallina Basin metasediments where soil and rock chip sampling has identified gold anomalies, with gold in rock chips up to 0.5 g/t Au, and lithium anomalies, with pegmatites up to 600 m in strike. Heritage clearance is planned to allow trenching, followed by drilling.
Anax Metals’ latest investor presentation and ASX announcements are published on its website and the ASX.
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Anax Metals’ 5 most recent announcements to the ASX:
Key facts about Anax Metals, as published on its website:
Geoff Laing is Anax Metals' Managing Director.
Last updated . Profile based on information published on Anax Metals’ website.
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