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Develop Global Limited (ASX:DVP)

ALERT: Price-sensitive ASX Announcement for DVP
Current share price for DVP : $4.260 -0.47 (-9.94%)+
Announcement
Release
17 Aug 2026 8:56AM
Price at Release
$4.730
Full Release
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Summary
Develop Global Limited has awarded a A$275 million EPC contract to GR Engineering Services Limited for the design and construction of the Yitirrti processing plant, formerly known as Sulphur Springs. This plant, with a capacity of 1.5 million tonnes per annum, will produce separate copper-silver and zinc concentrates. The total capital cost of the Yitirrti project is estimated at A$450 million, aiming for an internal rate of return of 37% and a payback period of 23 months. The project is funded by a US$400 million debt facility from Trafigura, along with Develop's cash and revenue from its other mining operations. Construction is progressing as scheduled with initial production expected in the June quarter of 2028. This development marks a significant milestone for Develop Global, contributing to its strategic growth in cash flow and operational projects across Australia.
Key Points
  • EPC contract awarded to GR Engineering Services Limited for Yitirrti project.
  • Processing plant to have a capacity of 1.5Mt per annum.
  • Estimated project capital cost of A$450 million.
  • Expected internal rate of return of 37% and 23-month payback.
  • Project funding includes a US$400 million debt facility from Trafigura.
  • Construction on schedule with production expected by June 2028.
  • Develop Global aims for growth in cash flow and operational projects.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.