Nifty, Australia / Copper
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Nifty is a high quality copper project in Western Australia, owned and operated by Cyprium Metals Limited.
Development
Copper
Cyprium
Australia
1.5% Realised Value royalty
Royalty rate and type
1.5% Realised Value royalty
Balance sheet classification
Royalty Intangible
Key facts
800 kt
Royalty payable once 800Kt copper has been delivered
6th
Mine recognised as the 6th largest development project in Australia, with the highest grade of copper
6
6 year life of mine (oxide only). Sulphide potential for >20 years
The Group owns a 1.5% Realised Value royalty over the Nifty project in Western Australia, owned and operated by Cyprium Metals Limited.
Nifty is a mine restart project with substantial existing infrastructure. The operator states that the mine is recognised as the sixth ranked development project in Australia by copper metal resource. The copper has the highest grade of the top six projects in this ranking. The operator expects the resource estimates to increase as it incorporates the results of various drilling and technical studies.
Cyprium Metals closed a US$27.3 million offtake financing agreement with Glencore plc, with the proceeds in part funding early site works at the Nifty copper complex as well as Nifty mine restart feasibility studies.
On 27 November 2024, Cyprium published a PFS.
The PFS outlines two standalone brownfield processing plants with two distinct sources of ore that can be processed to produce copper products:
- the Initial Cathode Project includes the refurbishment of an existing solvent extraction and electrowinning (“SX-EW”) plant to a nameplate annual copper cathode production capacity of approx. 6 kt per annum. The PFS estimates the Initial Cathode Project will produce an annual average of 6 kt of copper over 4 years.
- the Copper Concentrate Project contemplates the restart of mining activities, with an existing concentrator plant to be refurbished and expanded to a nameplate annual ore feed capacity of 4.5 Mtpa. The Copper Concentrate Project is forecast to produce an annual average of 38.7 kt of copper during the initial 10 years of production, and an annual average of 35.1 kt of copper over an estimated 20-year Reserves based mine-life.