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Cyprium Metals Ltd progressed towards the restart of its Nifty Copper Complex during the March 2025 quarter, while formalising a strategic alliance with Macmahon Holdings Ltd to execute the next phase of development.

The company also advanced work on its broader Paterson Province portfolio, including a significant mineral resource estimate (MRE) upgrade at Maroochydore, and generated additional capital through non-core asset divestments. Cash at the end of the quarter stood at A$17 million, with further proceeds expected from asset sales.

Chair Matt Fifield highlighted the ramp-up of restart planning with Macmahon and the expanded Maroochydore resource as key steps in Cyprium’s strategy to become a major Australian copper producer.

“We continue to rapidly advance our strategic goal of bringing the Nifty Copper Complex back into production. The March quarter marked completion of tasks initiated in 2024, most importantly the closing of equity fundraising required to strengthen our balance sheet and put Cyprium in the right spot for a productive 2025.

“One key highlight in the quarter was to formally begin work with Macmahon, our chosen partner in mine operations, on bringing pre-feasibility work completed in 2024 into an executable plan in 2025. Together we are rapidly finalising execution plans for the Cathode restart. We are also iterating the project concept outlined in the PFS last year around the Concentrate Plan to determine the best tradeoffs and statup sequencing that we would then progress into feasibility stage.

“A second highlight was the release of an upgraded resources statement at Maroochydore, which demonstrates the potential scale of the deposit with approximately 1.6 million tonnes of contained copper in inferred resource. We expect that this will become a significant part of our go-forward strategy as we build Australia’s next great copper company.”

Proactive - Cyprium Metals progresses Nifty Copper Complex restart during March quarter