Anax Metals Limited (ASX: ANX) has officially commenced Front-End Engineering Design (FEED) for its Whim Creek copper project in Western Australia. This move marks the transition from feasibility study results toward the project’s execution phase. By initiating FEED, the company intends to increase the engineering definition across key infrastructure, including the proposed 400 ktpa concentrator, ore sorting circuits, and mining fleet. The process is a critical precursor to project financing and provides the foundation for refined capital and operating cost estimates.

The engineering programme is being delivered through an Integrated Project Team (IPT) model. This structure combines the expertise of Anax with WSP, Orelogy, CPC Engineering, and Gekko Systems within a unified decision-making framework. The objective of this collaborative approach is to reduce interface risk and enable cost estimation and schedule optimization to progress in parallel, ultimately aiming to strengthen project governance.

"The commencement of FEED represents another important milestone in the development of Whim Creek and demonstrates our continued focus on advancing the Project towards construction."

"By adopting an Integrated Project Team delivery model with globally recognised engineering and technical partners, we are positioning the Project to achieve a disciplined and efficient transition from study into execution."

— Geoff Laing, Managing Director

The IPT will be directed by recently appointed Chief Operating Officer Danny George, who brings over two decades of experience in transitioning projects from feasibility through to operational status. Early engagement with contractors and equipment manufacturers is also being prioritized under the FEED programme to validate market pricing and optimize procurement for long-lead equipment.

Advancement of the FEED programme occurs alongside ongoing debt financing and concentrate offtake discussions. Anax remains actively engaged with potential partners to secure the necessary funding structures for the site. As the company moves toward its goal of a Final Investment Decision (FID) in the fourth quarter of 2026, it is also finalizing an updated Mineral Resource and Ore Reserve estimate for the Mons Cupri deposit. This update will incorporate current metal prices and operational cost inputs, providing an enhanced financial model to support the upcoming FID.

Completion of the FEED process is the primary catalyst for the company over the coming months. Once the engineering definition is matured and the financial model is finalized, the board will be in a position to evaluate the project for a formal investment decision. The company continues to advance due diligence activities and site visits with shortlisted parties as part of the broader funding process. By aligning engineering maturity with commercial and financing objectives, Anax is attempting to position the Whim Creek asset for a disciplined development path into 2027 and beyond, ensuring that project execution planning is robust and ready for the targeted Q4 2026 milestone.

Read the full announcement: Commencement of Front-End Engineering Design at Whim Creek