CuFe Ltd has revealed significant high-grade bismuth mineralisation at its Orlando deposit near Tennant Creek, prompting a resource update that could enhance the project's strategic value amid global supply constraints.
- Technical review highlights high-grade bismuth intercepts at Orlando
- Bismuth grades substantially exceed historical averages in Tennant Creek
- CuFe commissions updated JORC resource including bismuth within 30 days
- Bismuth recovery shows promising metallurgy with minimal operational changes
- Global bismuth supply risk intensifies due to Chinese export restrictions
Strategic Mineral Focus Shifts to Bismuth
CuFe Ltd (ASX, CUF) has announced a technical review revealing high-grade bismuth mineralisation at its Orlando deposit, part of the Tennant Creek Mineral Field in Australia's Northern Territory. This discovery follows the company's recent Gecko JORC resource update, which already positioned CuFe as a significant holder of Australia's bismuth resources.
The review identified several substantial bismuth intercepts from 2022 drilling, including a standout 10-meter interval grading 1.52% bismuth, with sub-intervals reaching up to 3.85%. These grades are notably higher than the historical average of 0.3% bismuth mined in the region, underscoring the high-grade nature of the mineralisation.
Bismuth’s Rising Strategic Importance
Bismuth is increasingly recognised as a critical mineral by major economies including the USA, EU, UK, India, South Korea, and Japan. With China dominating over 80% of global production and recent export restrictions imposed in 2025, supply risks have heightened. The US Defence Logistics Agency’s recent tender to stockpile bismuth further highlights its strategic value, especially for clean energy technologies and defense applications.
CuFe’s Orlando and Gecko deposits are rare examples of high-grade bismuth provinces outside China, with bismuth occurring as bismuthinite within copper and gold mineralised zones. The company’s 2022 flotation test work demonstrated bismuth recoveries of 82.7%, indicating that bismuth can be efficiently extracted alongside copper and gold with minimal additional processing.
Resource Update and Future Plans
To capitalise on this opportunity, CuFe has commissioned MEC Mining Consultants to update the Orlando resource to include bismuth, with results expected within 30 days. This update will enable the company to assess the economic potential of bismuth as a co-product, potentially adding a valuable revenue stream with minor capital expenditure.
Executive Director Mark Hancock emphasised the uniqueness of the project, noting that bismuth is a co-product of copper and gold mining with a demonstrated history of production in Tennant Creek. The integration of bismuth into resource estimates and processing plans could position CuFe advantageously amid growing global demand and supply uncertainties.
Challenges and Market Implications
While the findings are promising, the true width of bismuth mineralisation remains uncertain, and the economic viability will depend on forthcoming resource modelling and metallurgical test results. Historical data quality varies, and further drilling is planned to delineate high-grade bismuth pods and extensions.
Given the geopolitical tensions affecting bismuth supply, CuFe’s progress at Orlando could attract increased investor interest as the company advances towards unlocking the full value of this critical mineral resource.
Bottom Line?
CuFe’s upcoming resource update could redefine its strategic position in the critical minerals market as bismuth demand surges.
Questions in the middle?
- How will the updated resource estimate impact CuFe’s valuation and project economics?
- What are the potential capital costs and operational adjustments needed for bismuth recovery?
- How might evolving geopolitical dynamics influence bismuth pricing and supply security?