Cyprium Metals has formed a strategic alliance with Macmahon Holdings to accelerate the redevelopment of the Nifty copper complex in Western Australia.
Under the non-binding heads of agreement, Macmahon will lead and contribute internal resources to complete Nifty’s bankable feasibility study (BFS), which will build off of the Nifty pre-feasibility study released in November 2024.
Macmahon is expected to contribute internal engineering, planning, estimation and project management resources needed to complete the BFS and restart copper production at Nifty.
Cyprium executive chair Matt Fifield welcomed the strategic alliance with Macmahon, describing it as “a significant step forward” in advancing its operational and execution capacity..
“Macmahon is a recognised leader in mining services, bringing extensive expertise in engineering, procurement and best-in-class operating and environmental systems,” Fifield said.
“Their operations align with the scale required for the new open-pit development at Nifty. They operate at the scale of mine and equipment that a new open pit at Nifty will require. Macmahon’s expertise brings real-life experience to the feasibility process that further de-risks Nifty and sets parameters of our execution plans.”
The BFS is subject to an early contractor involvement (ECI) contract. The contract’s scope includes Macmahon leading Nifty site operations to accelerate scoping of feasibility studies and refurbishment programs. Upon execution of the contract, Macmahon will also take up site operations at Nifty.
If all the works under the ECI contract are completed, Cyprium and Macmahon will enter an exclusive period to agree upon the terms of a life-of-mine and whole-of site alliance style operations contract for Nifty.
Macmahon will also identify early revenue opportunities and undertake rapid restart scenario planning to maximise Nifty’s brownfield infrastructure benefits and prolific data.
“We are excited to partner with Cyprium and contribute to accelerating Nifty’s redevelopment,” Macmahon managing director and chief executive officer Mick Finnegan said.
“Nifty (in) the Paterson Range (of WA), and copper more broadly, are very interesting to us. The project requirements fit many of our core capabilities including engineering services, operational execution, and providing end-to-end value for our clients.”
Nifty is projected to have a life-of-mine production of 718,000 tonnes of copper over nearly 21 years.
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