Cyprium Metals has partnered with Glencore International (Glencore) to accelerate the restart of copper production at its Nifty copper complex near Port Hedland in Western Australia (WA).
This commercial partnership concentrates on four key areas essential to resuming copper production at Nifty – cathode offtake, sulphuric acid supply, concentrate sales and technical support.
Glencore will buy copper products from Nifty’s two processing plants, including off-spec materials that are often produced during the start-up phase.
The cathode offtake agreement encompasses the sale and purchase of 100% of the cathodes produced and delivered to Port Hedland, with an initial fixed term that is extendable by mutual agreement.
Cyprium’s contract for the sale of copper concentrate is expected to commence in 2026, the earliest anticipated date for Nifty’s production of concentrate.
This agreement is based on market prices and offers flexibility regarding delivery points throughout the contract’s duration.
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Additionally, the alliance includes an option for Cyprium to purchase sulphuric acid, ensuring supply certainty.
Glencore Technology will provide technical support, and a working capital facility will allow for the effective purchase point of cathodes to shift from Port Hedland to the Nifty mine site.
Cyprium executive chair Matt Fifield said: “Glencore is a great strategic partner for us. We continue to execute our plan to resume copper production at Nifty.
“This commercial partnership gives us certainty of revenue during the crucial start-up 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.
“With this relationship now in place, Cyprium will accelerate plans for constructing a new surface mine at Nifty to produce concentrate at scale for Glencore.”
