What Terramin Australia does

Terramin Australia Limited (ASX: TZN), founded in 1994 and headquartered in Strathalbyn, South Australia, is a mining exploration and development company focused on base and precious metals across Algeria and South Australia. The company's project portfolio includes the Tala Hamza Zinc Project (49% owned, joint venture with Algerian government entities ENOF and ORGM) targeting a 53Mt resource at 6.6% Zn+Pb and 2.0 Mtpa throughput; the Bird in Hand Gold Project (100% owned) with 265,000 oz at 12.6 g/t, restored to the company's Exploration Licence in March 2026 following a Court of Appeal challenge; the Kapunda Copper Joint Venture (25% retained, 75% ECR) using in-situ recovery technology; and the South Gawler Ranges Project under a JOGMEC earn-in agreement covering 4,524 km². The Angas Zinc Mine has been on care and maintenance since late 2013 due to reserve depletion.

The technology stack combines conventional mining methods (underground cut-and-fill for Bird in Hand) with validated in-situ recovery chemistry for low-cost copper extraction at Kapunda, alongside conventional 2.0 Mtpa processing operations planned for Tala Hamza. Revenue generation will depend on future metal concentrate sales (zinc, lead, gold, copper) to smelters and refineries under offtake arrangements, supplemented by 0.5–1.5% net smelter return royalties on JV partner interests. The Tala Hamza concentrate is positioned for sale to European zinc smelters via a dedicated berth at Port of Bejaia; the company currently generates no production revenue and is functionally pre-revenue.

The business operates through joint venture structures in which partners (ENOF, ORGM, ECR, JOGMEC, OZ Minerals, Sinosteel MECC) provide capital, infrastructure, and technical expertise while Terramin retains project management rights and minority equity. The Algerian government is constructing key infrastructure (high-voltage power, highway access, port facilities) at government cost to support Tala Hamza's development, and advanced debt financing discussions are underway with a major Algerian government-owned bank.

Name

Terramin Australia

Legal name

Terramin Australia Limited

Website

https://terramin.com.au

Company type

Public

Founded year

1994

Operating status

Operating

Headcount range

11–50 employees

Short description

Terramin Australia Limited (ASX: TZN) is a mining exploration and development company advancing base and precious metals projects — including zinc-lead at Tala Hamza (Algeria, 49%), gold at Bird in Hand (South Australia, 100%), and copper via Kapunda ISR — for future sale of metal concentrates to smelters.

Ownership category

akta.pro rank

Product category

Base and Precious Metals Mining

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230), Gold Ore and Silver Ore Mining (21222)

SIC

Metal Mining (1000), Gold And Silver Ores (1040)

akta.pro primary industry

Precious Metals Exploration & Project Development (IMAKAEAI)

akta.pro secondary industries

Non-Ferrous Base Metals Trading (Aluminum, Copper, Zinc, Lead, Tin, Nickel) (IMAKAJAC), Mine Closure, Reclamation & Environmental Services (Precious Metals Sites) (IMAKAEAL)

Keywords

• Base metals mining
• Precious metals exploration
• Zinc concentrate production
• Gold mining projects
• Copper in-situ recovery

Headquarters

HQ city

Glen Osmond

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Infrastructure, Operations, Personnel, Others

Revenue model

1. Metal Production and Sales: Revenue generated from mining and selling base and precious metals (zinc, lead, copper, gold) extracted from company projects. Products include zinc concentrate and lead concentrate from Tala Hamza, with offtake to smelters including proximity to European zinc smelters.
2. Royalty Income: Terramin retains royalty interests on projects where joint venture partners have earned majority stakes. At Kapunda, Terramin receives 1.5% royalty on all metals extracted from ECR's 75% interest. At South Gawler Ranges, Terramin retains up to 24% interest with 0.5% Net Smelter Return royalty from JOGMEC's potential 76% interest.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Terramin Australia Limited engages in the exploration, evaluation and development of base and precious metal projects. Its core offering is the development and operation of zinc, lead, copper and gold mining assets across Algeria and South Australia, with concentrate and metal products sold to smelters, refineries and global commodity markets via direct offtake agreements. Revenue is supplemented by royalties on projects where joint venture partners have earned majority stakes.

Product overview

Terramin Australia Limited is a mining exploration and development company focused on base and precious metal projects. The company operates a portfolio of mining projects across Algeria and South Australia, including zinc-lead mining operations (Tala Hamza Zinc Project), gold mining projects (Bird in Hand Gold Project), copper recovery operations (Kapunda Copper Joint Venture), and exploration tenements (South Gawler Ranges Project). The company also maintains the Angas Zinc Mine in care and maintenance status. These projects are managed either directly or through joint venture arrangements, with Terramin holding ownership stakes ranging from 25% to 100%.

Differentiator

Problem solved

Functional benefit

Products and services

• Tala Hamza Zinc Project

Quantifiable outcome

• Post-tax NPV of US$640M at 8% discount rate for Tala Hamza
• +5 more outcomes

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• OZ Minerals (subsidiary of BHP Limited)minorStrategic or Co-development Partner · 1 September 2022In September 2022, ECR announced a technical collaboration agreement with OZ Minerals. OZ Minerals committed A$2.5 million toward advancing the Kapunda ISR copper project. This collaboration provides technical expertise and additional capital to the project.
• JOGMEC (Japan Organization for Metals and Energy Security)coreStrategic or Co-development Partner · 1 March 2022JOGMEC signed an exploration agreement with Terramin in March 2022 for the South Gawler Ranges Project. Under the earn-in option terms, JOGMEC can earn a 70% interest by spending A$7.5 million over 6 years. After earning 70%, JOGMEC can acquire an additional 6% interest for A$3.0 million, with a 0.5% NSR royalty to Terramin. To date, JOGMEC has spent A$3.5 million and earned an option to purchase 50.1% interest. Exploration drilling targeting IOCG-style deposit commenced February 2026 at Warner South target.
• ECR (Environmental Copper Recovery Pty Ltd)coreStrategic or Co-development Partner · 1 August 2017In August 2017, Terramin entered into an agreement with ECR for development of the Kapunda Copper ISR project. ECR earned 50% interest in September 2020 after investing A$2.0 million, and completed additional A$4.0 million investment in April 2025 to earn further 25% interest. ECR now holds 75% of the project while Terramin retains 25% ownership and receives a 1.5% royalty on all metals extracted. ISR trial commenced July 2025.
• ENOF (Enterprise Nationale des Produits Miniers Non-Ferreux et des Substances Utiles Spa)coreStrategic or Co-development PartnerENOF holds 48.5% interest in Bejaia Zinc & Lead Spa (BZL), the joint venture vehicle that owns the Tala Hamza Zinc Project. ENOF is an Algerian government-owned company. Terramin holds management rights over the project with its 49% shareholding.
• ORGM (Office National de Recherche Géologique et Minière)coreStrategic or Co-development PartnerORGM holds 2.5% interest in Bejaia Zinc & Lead Spa (BZL), the joint venture vehicle that owns the Tala Hamza Zinc Project. ORGM is an Algerian government geological and mining research office.
• Sinosteel MECCcoreTechnology or IntegrationSinosteel MECC has been engaged under an EPC contract for the process plant and underground mine at Tala Hamza Zinc Project. Sinosteel is a major Chinese engineering and construction company specializing in metallurgical facilities.
• Computershare Investor Services Pty LtdminorOthersShare registry services provider for Terramin Australia. Located at GPO Box 2975, Melbourne Victoria 3001. Contact: +61 8 8236 2300 or 1300 556 161 (within Australia). Handles shareholder communications, dividend payments, and share registration.

Scale indicators12 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Westgold Resources Limited: Mid-tier Australian gold producer operating multiple gold mines in Western Australia. Relevant comparable for evaluating Bird in Hand's production economics at full scale.
• Ramelius Resources Limited: Mid-tier Australian gold producer with a history of acquiring and merging with ASX gold developers. Relevant as the natural acquirer profile for projects like Bird in Hand once in production.
• Sandfire Resources Limited: ASX-listed mid-tier copper-gold producer. Comparable in multi-metal mining exposure (Cu-Au concentrates) and in serving as a strategic acquirer of base/precious metal projects in Australia.
• BHP Group Limited (including former OZ Minerals assets): Global mining major that acquired OZ Minerals in 2023 and was previously a Kapunda technical collaborator. Provides a benchmark for large-scale project execution, offtake negotiation, and capital costs comparable to Tala Hamza's scale.

Direct peers

• InZinc Mining Ltd: Canadian-listed zinc-focused explorer/developer pursuing early-stage zinc projects in BC. Direct peer in commodity focus (zinc), development stage, and developer-to-producer transition.
• Alta Zinc SpA: European-listed junior zinc-lead-silver developer advancing the Gorno Project in Italy. Comparable in commodity focus (Zn-Pb-Ag), junior developer profile, and concentrate-based revenue model.
• Capricorn Metals Limited: ASX-listed Australian gold developer/producer with the Mt Gibson Gold Project. Directly comparable to Terramin in jurisdiction (Western Australia vs South Australia), single-asset gold development focus, and small-mid cap scale.
• Aurelia Metals Limited: ASX-listed base and precious metals producer in NSW producing zinc, lead, copper, and gold concentrates. Comparable portfolio mix (Zn-Pb-Cu-Au concentrates sold to smelters) and Australian mid-cap developer-to-producer profile.
• First Tin Limited (formerly Ironbark Zinc): ASX-listed tin/zinc developer with flagship Australian assets and German tin interests. Closely comparable to Terramin in size, commodity mix (zinc/tin), development stage, and ASX small-cap developer profile.

Emerging players

• PNX Metals Limited: ASX-listed multi-metal (gold, silver, base metals) explorer-developer in the Northern Territory and South Australia. Comparable jurisdiction (SA/NT), multi-commodity project portfolio, and small-cap developer stage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/TerraminAust
• LinkedInlinkedin.com/company/terramin-australia-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Terramin Australia