Emerging copper company Cyprium Metals has entered into a commercial strategic partnership with Glencore to expedite the recommencement of copper production from the Nifty copper mine.
The partnership will focus on four key areas: cathode offtake, sulphuric acid supply, concentrate sales, and technical support.
Under the agreement, copper products from Nifty’s two processing plants will be purchased by Glencore, including off-spec materials that are frequently produced during a startup period.
Cyprium said the cathode offtake contract, which will have an initial fixed term, will cover the sale and purchase of cathodes produced and delivered to Port Hedland. The company’s sale contract for copper concentrate will run from 2026, the earliest date Nifty could produce concentrate.
Other terms of the partnership include an option for Cyprium to purchase sulphuric acid to eliminate supply uncertainty, gain technical support from Glencore Technology, and a $20 million working capital facility for copper production.
“Glencore is a great strategic partner for us,” Cyprium executive chair Matt Fifield said. “We continue to execute our plan to resume copper production at Nifty.
“This commercial partnership gives us certainty of revenue during the crucial startup phases of Nifty’s two processing plants, removes uncertainty in sourcing a key input into cathode production, and aligns with creating and maintaining a strong Australian job base in the ultimate critical mineral, copper.”
A Glencore spokesperson welcomed the partnership.
“We have been following Cyprium’s growing capabilities and are pleased to support the phased approach to redeveloping Nifty through this strategic commercial relationship,” they said.
Cyprium will now accelerate plans for constructing a new surface mine at Nifty in order to produce copper concentrate at scale for Glencore.
The Nifty mine is located approximately 350km southeast of Port Hedland in Western Australia.
A recent scoping study found that the Nifty optimal pit contains 70 million tonnes of sulphide ore at 0.9 per cent copper for about 570,000 tonnes of recovered copper. As a result, the mine is expected to produce 36,000 tonnes of copper on average per annum.
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