Cyprium Metals Nears Copper Production at Nifty with Expansion Plans in Play

Phase 1 Restart Advances Toward Production

Cyprium Metals Limited (ASX:CYM) is rapidly advancing its Phase 1 Copper Cathode Restart project at the Nifty Copper Complex in Western Australia, aiming to shift from construction to commissioning and operational readiness. The company is targeting first copper cathode production in the September quarter 2026, with significant infrastructure works either completed or nearing completion.

Key milestones over the June quarter include commissioning a new acid storage and distribution terminal, with sulphuric acid deliveries resuming after a 17-year hiatus, and substantial progress on leach solution recovery and handling circuits. The heap leach pads have undergone turnover and dripper line installation, alongside promising initial results from a direct injection leaching trial designed to increase the volume of material under leach.

Refurbishment and Commissioning of SXEW Plant

The refurbishment of Train B of the solvent extraction and electrowinning (SXEW) plant is well underway, with concrete repairs, acid-proof coatings, pipework reinstatement, and installation of new pumps and motors progressing. Delivery and installation of essential components such as electrowinning cell inserts, rectiformers, and anodes have been completed or are ongoing, positioning the plant for practical completion and commissioning in the coming months.

Operational readiness activities have also accelerated, with development of operating procedures, training programs, upgraded warehouse and stock management systems, and laboratory fit-outs advancing to support production. The company has received initial reagent first fills, further preparing for the transition to active operations.

Growth Strategy: Expanding Capacity and Ore Sources

Beyond the restart, Cyprium is progressing technical and commercial work to expand the SXEW plant’s cathode production capacity from the targeted ~6,000 tonnes per annum (tpa) under Phase 1 to approximately 20,000 tpa. This expansion would leverage existing infrastructure by refurbishing the older "A Train" section of the plant and constructing a new leach pad (Pad 7) to accommodate additional oxide ore sources.

These additional ore sources include shallow oxide material identified in the open pit, mineralised zones within the extensive Nifty waste dump, and potential to increase recovery rates from existing heap leach pads. The company plans to update Mineral Resources and Ore Reserves estimates during the second half of 2026 following further drilling and evaluation.

Extensive Copper Mineralisation in Waste Dump

Recent drilling results have revealed extensive copper oxide mineralisation within the Nifty waste dump, presenting a potentially low-cost feed source for heap leach and SXEW operations. Highlights include multiple intercepts exceeding 1% copper over several metres near surface, such as 9m at 1.00% Cu including 4m at 1.83% Cu, and 7m at 1.11% Cu including 3m at 1.55% Cu.

These findings support the company’s phased restart and expansion plans by potentially increasing available ore without the need for immediate open pit mining. The waste dump lies within 1.2km of existing heap leach pads, accessible by existing haul roads, facilitating integration into processing operations. Cyprium intends to provide further updates on exploration and resource definition in the September quarter. This complements ongoing exploration efforts targeting down plunge extensions of the Nifty deposit and regional targets within the Paterson Province.

Financial Position and Executive Strengthening

Cyprium ended the June quarter with a robust cash balance of A$68.5 million, reflecting continued investment in property, plant, and equipment totaling A$20.6 million. Net cash used in operating activities was A$5.0 million, consistent with site readiness and growth initiatives.

The company also bolstered its leadership team with key appointments including Richard Holmes as Chief Development Officer and Chris Catania as Chief Technical Officer, aiming to support the execution of its production and growth strategies.

Cyprium’s financial and operational momentum positions it well to transition from construction to production imminently, while laying groundwork for substantial capacity growth and resource expansion in the medium term.