Base metals miner Develop Global said on Monday that it had kicked off concentrate shipments from its Woodlawn copper/zinc mine in New South Wales and that it was fast-tracking underground development at its Sulphur Springs project in Western Australia following a recently completed A$180-million equity raising.

In its June quarterly update, the miner reported first concentrate sales from Woodlawn to offtake partner Trafigura. Commissioning at the site, which restarted under Develop’s ownership, remains on schedule with nameplate capacity already achieved in plant stress tests.

The company processed 164 000 tof ore during the quarter, yielding 12 689 tof concentrate containing 969 t of copper, 2 340 t of zinc, and 545 tof lead. Revenue from these sales would be recorded in the current quarter, Develop said.

Underground development at Woodlawn reached 1 449 m for the quarter, with high-grade ore stockpiles of 32 000 t now sitting on the run-of-mine pad. Paste fill commissioning is complete, enabling stoping to ramp up in coming months.

The restart comes amid a broader shift in strategy. “We took a strategic decision to bring forward a series of work streams which we believe will unlock the true value of our assets in a more aggressive and timely manner,” MD Bill Beament said in astatement.

At Sulphur Springs, Develop confirmed that early earthworks began in the June quarter, with underground decline development now scheduled to commence in the September quarter – earlier than originally planned. An updated definitive feasibility study remains on track for completion in the December quarter.

Beament said the front-ended underground development strategy would “significantly de-risk the project” and enhance financing flexibility.

The miner also revealed record revenue for its mining services division, hitting A$212.3-million in the 2025 financial year, driven by performance at external projects such as Bellevue. Develop is now pursuing new tender opportunities across the sector.

To support its growth plan, Develop completed a A$180-million share placement in July, saying the funds will be used to accelerate mine life extensions at Woodlawn and Sulphur Springs and explore potential strategic partnerships. The capital raise was backed by major institutional investors and existing shareholders.

As part of the updated strategy, Develop scrapped plans to sell a minority stake in Woodlawn, citing long-term upside in retaining full control.

Beament pointed to strong demand for copper and zinc as a key tailwind. “We have so many opportunities to create value thanks to a combination of our outstanding assets, the strong demand for copper and zinc from tier-one locations and the partnership prospects being put to us.”

Develop ended the quarter with A$58-million in cash, not including the proceeds from the July equity raise.