Cyprium Metals has boosted the economics of its Nifty copper complex following an updated geotechnical study conducted by its technical partner, MEC Mining.
Re-optimisation of the new Nifty surface mine has reduced the strip ratio, preserved key infrastructure, reduced the mine footprint and extended the mine life to over 20 years.
“A number of positive outcomes (have been achieved): better economics, reduced footprint, and importantly the ability to continue to generate revenue from the cathode plant throughout the life of the surface mine,” Cyprium executive chair Matt Fifield said.
“The updated mine optimisation is a material development for Cyprium and is a result of following a thoughtful mine development sequence from end-to-end.”
The updated mine optimisation has lowered the concentrator-only strip ratio by 25 per cent to 7.3:1 from 9.7:1, as estimated in the May 2024 scoping study.
Cyprium chief operating officer Colin Mackey said the smaller footprint lessens the total material movements, increases the speed to first ore, and improves overall site interactions and operational flexibility given the extended preservation of SX-EW infrastructure.
Fifield said Cyprium has been methodically strategising the mine.
“One of development sequencing trade-offs we have been thinking through in the background is the interaction between the surface mine and the cathode plant,” Fifield said.
“Previously, this meant that while the cathode restart was low complexity and likely very profitable, it also had an uncertain life depending on Cyprium’s ability to progress the new surface mine quickly.”
Cyprium will incorporate this updated data into its restart planning and pre-feasibility study (PFS), with an updated reserve expected in October 2024.
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