Cyprium Metals gets green light for Nifty restart

Proactive

Written by Fouad Haidar

Cyprium Metals Executive Chairman Matt Fifield talked with Proactive about the recent approval from the Department of Energy and Economic Diversification that allows the company to restart operations at the Nifty Copper Project.

Fifield described the approval as “that final boost of confidence that we were waiting for,” explaining that all necessary permissions are now in place. This approval marks a significant step in Cyprium's phased redevelopment strategy, beginning with the resumption of copper cathode production.

The initial restart is expected to create more than 70 permanent jobs and over 80 construction roles, along with generating royalty payments to Western Australia. Fifield noted that while this first phase is relatively small, it’s designed to build operational momentum. “We’re trying to go through that crawl, walk, run philosophy,” he said.

Cyprium has also partnered with mining contractor Macmahon Holdings to support the project’s execution. The long-term vision includes scaling up to over 45,000 tonnes of copper production per year through expanded open pit mining and refurbishing the concentrator.

In addition to operational developments, Cyprium recently refinanced its existing $27.3 million senior secured loan facility through a binding term sheet with Nebari. This follows an $80 million equity raise. Fifield emphasized the importance of maintaining liquidity and tailoring debt facilities to meet evolving needs.

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Read the full article on Proactive here