NFM’s Copper Ambitions Hinge on Pending Metallurgical Tests and Approvals

Strategic Progress at NWQ Copper Project

New Frontier Minerals Limited (ASX: NFM) has taken a significant step forward in advancing its flagship NWQ Copper Project in Queensland by collecting bulk samples from historical stockpiles at the Big One Deposit. These samples are now en route to Austral Resources’ Mt Kelly Copper Processing Plant for metallurgical evaluation, marking a critical milestone in the company’s ambition to fast-track copper production.

The NWQ Copper Project is strategically located within the prolific Mt Isa Copper Belt, one of the world’s premier copper provinces. This region benefits from established infrastructure and proximity to major mining players such as Anglo American, Glencore, and Rio Tinto, providing NFM with a competitive advantage in developing its resource.

Formalizing a Strategic Alliance

Central to this advancement is a recently formalized Memorandum of Understanding (MOU) between New Frontier Minerals and Austral Resources. This alliance leverages Austral’s advanced Mt Kelly processing facility to treat copper ore from NFM’s Big One Deposit, significantly accelerating the pathway to production. The collaboration is designed to be scalable, with potential to incorporate additional satellite targets within the NWQ Project, and includes a profit-sharing model to ensure mutual value creation.

Non-Executive Director Joel Logan’s site visit to Mt Kelly provided valuable insights into the plant’s capacity and operational readiness to support NFM’s production goals. Chairman Gerrard Hall emphasized the strategic importance of this partnership, highlighting the NWQ Project’s potential to emerge as a standout asset within the Mt Isa Copper Belt.

Exploration and Resource Potential

The Big One Deposit currently holds a JORC-compliant Mineral Resource Estimate of 2.1 million tonnes at 1.1% copper, containing approximately 21,886 tonnes of copper metal. Beyond this, the NWQ Project encompasses over 20 under-explored targets, offering substantial upside potential. NFM plans to progress mining lease applications and regulatory approvals while conducting metallurgical testing of existing copper oxide stockpiles to expedite near-term production.

Further drilling is planned to expand the resource base at Big One and explore satellite targets, supported by detailed geological and geophysical studies. The company’s approach reflects a disciplined strategy to move from exploration to production efficiently, capitalizing on the region’s rich mineral endowment.

Copper Demand and Market Context

The timing of these developments aligns with a robust global copper demand outlook, driven by decarbonization, electrification, and infrastructure growth worldwide. This macroeconomic backdrop reinforces the strategic value of the NWQ Copper Project and the importance of securing processing capabilities to meet market needs swiftly.

Pending metallurgical test results from the bulk samples will be crucial in confirming ore processing viability at Mt Kelly. These results, expected within one to two months, will inform the next phases of project development and potential production timelines.