Cyprium Metals

What Cyprium Metals does

Cyprium Metals Limited (ASX: CYM) is an Australian copper developer headquartered in Subiaco, Western Australia, focused on redeveloping the Nifty Copper Complex in the Paterson region, ~350 km southeast of Port Hedland. The flagship asset was acquired 100% from Metals X in March 2021; Nifty had produced over 700,000 tonnes of copper historically (1993-2019) before being placed into care and maintenance in November 2019. Cyprium is executing a phased restart, with Phase 1 targeting cathode output from the existing 25ktpa copper cathode heap leach and SX-EW facility (first cathode targeted mid-2026) and a Phase 2 Concentrate Project feasibility study covering the idled 2.8 Mtpa sulphide concentrator. The asset sits on a 1,038,000-tonne contained copper Mineral Resource (with 91,000 tonnes in existing leach pads) and a November 2024 Ore Reserve of 797,000 tonnes contained copper.

The product portfolio extends beyond Nifty to the Maroochydore Copper Project (~85 km southeast of Nifty, 1,595,000 tonnes contained copper in near-surface primary sulphides), the 1,938 km² Paterson Exploration Project (100% owned since IGO exited the JV in April 2025), and the Murchison Copper-Gold Project (80/20 JV with Ramelius Resources, anchored by the Hollandaire deposit at 2.8 Mt at 1.9% Cu). Process technology is conventional: SX-EW for copper cathode, heap leach for retreatment of existing leach pads, and standard flotation for copper concentrate. A 21 MW gas turbine power station, workshops, accommodation village, and a sealed airstrip are already on site, materially lowering restart capex versus greenfield.

Revenue is generated from the sale of copper cathode and concentrate to global smelters, traders, and industrial buyers at prevailing commodity prices through direct sales; no customers are disclosed and pricing is not publicly broken out. The company has raised approximately A$120M of equity across 2022-2026, plus a US$27.3M senior secured loan from Nebari, to fund the restart. Major shareholders include Tribeca Investment Partners, Tanito Group, Flat Footed, and Pacific Road Capital (Executive Chairman Matt Fifield's fund). Headcount is 11-50.

Name

Cyprium Metals

Legal name

Cyprium Metals Limited

Website

https://cypriummetals.com

Company type

Public

Founded year

1983

Operating status

Operating

Headcount range

11–50 employees

Short description

Cyprium Metals Limited is an ASX-listed Australian copper developer redeveloping the brownfield Nifty Copper Complex in Western Australia (placed into care and maintenance in 2019), with a phased cathode restart targeted for mid-2026 and a portfolio that includes the Maroochydore, Paterson Exploration, and Murchison Copper-Gold projects.

Ownership category

akta.pro rank

Product category

Copper Mining

NAICS

Nonferrous Metal (except Aluminum) Smelting and Refining (33141), Other Metal Ore Mining (212290)

SIC

Primary Smelting & Refining Of Nonferrous Metals (3330)

akta.pro primary industry

Copper Hydrometallurgy (Leaching, SX/EW) (IMAKADAD)

akta.pro secondary industry

Copper Anode/Cathode Production & Handling (IMAKADAG)

Keywords

• Copper mining
• Copper cathode production
• Heap leach processing
• Mineral exploration
• Mining restart operations

Headquarters

HQ city

Subiaco

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Supply Chain

Distribution channels1 record

Marketing channels6 records

Core offering

Cyprium Metals Limited (ASX: CYM) is an Australian copper company that produces copper cathode via heap leach SX-EW processing and copper concentrate via flotation at the Nifty Copper Complex in Western Australia's Paterson region. The company is advancing a phased restart of copper cathode production (targeted mid-2026) and holds a portfolio of copper projects including the Maroochydore Copper Project, Paterson Exploration Project, and Murchison Copper-Gold Project joint venture.

Product overview

Cyprium Metals is an ASX-listed Australian copper company operating a portfolio of copper assets in the Paterson and Murchison regions of Western Australia. The company's primary offering is the Nifty Copper Complex, a brownfield copper mine restart project that produces copper cathode via heap leach SX-EW processing and copper concentrate via flotation. Supporting assets include the Maroochydore Copper Project (a significant copper deposit 85km from Nifty), the Paterson Exploration Project (greenfield exploration tenements), and the Murchison Copper-Gold Project (joint venture with Ramelius Resources). The company is focused on a phased restart of Nifty's copper production, with Phase 1 targeting copper cathode output.

Differentiator

Problem solved

Functional benefit

Products and services

• Nifty Copper Complex The flagship copper mining and processing complex located approximately 350 km southeast of Port Hedland in the Paterson region of Western Australia. Features existing infrastructure including a 2.8 Mtpa sulphide concentrator, a 25ktpa copper cathode heap leach and SX-EW facility, and a 21 MW gas turbine power station. The complex hosts a Mineral Resource Estimate of 1,038,000 tonnes of contained copper plus 91,000 tonnes in existing leach pads, and has produced over 700,000 tonnes of copper historically.
• Maroochydore Copper Project A significant copper deposit located approximately 85 km southeast of Nifty in the Paterson region of Western Australia, with a Mineral Resource Estimate of 1,595,000 tonnes of contained copper in predominantly near-surface primary sulphides. Adjacent to Nifty processing infrastructure, enabling potential shared infrastructure utilization.
• Paterson Exploration Project A large-scale copper exploration project spanning 1,938 km² along a 200 km strike length in the Paterson Province of Western Australia, adjacent to Nifty processing infrastructure. Hosts advanced exploration targets including Rainbow, NB08, MB01, and NL05 identified through extensive geophysical surveys and drilling programs.
• Murchison Copper-Gold Project

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• IGO LimitedcoreStrategic or Co-development Partner · 1 April 2025Exploration partner that invested approximately A$24 million across the tenement package from 2020-2025, completing over 36,000 metres of drilling, surface sampling and extensive geophysical surveys. IGO withdrew from the joint venture in April 2025, returning full ownership of the Paterson Exploration Project to Cyprium. Generated high-quality dataset and identified advanced exploration targets including Rainbow, NB08, MB01 and NL05.
• Ramelius ResourcesminorStrategic or Co-development Partner20% JV partner in the Cue Project (80% Cyprium / 20% Ramelius Resources) covering 118km2 of tenure in the Murchison region with four mining leases and nine exploration licences.
• MEC Mining / MEC AdvisorycoreImplementation/ SI/ Consulting PartnerTechnical advisors who compiled the Nifty Mineral Resource Estimate (March 2024), Nifty Ore Reserve Estimate (November 2024), Heap Leach Mineral Resource Estimate (August 2024), and Maroochydore Mineral Resource Estimate (January 2025). Christofer Catania from MEC Advisory serves as Competent Person for reserve estimates.

Scale indicators12 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Sandfire Resources: ASX-listed Australian copper-focused miner with operating copper mines and processing infrastructure, most comparable to Cyprium as a fellow Australian copper producer. Both companies have built portfolios around copper assets in Australia and share the SX-EW/concentrator operating model, though Sandfire is significantly larger and in production.
• Aeris Resources: ASX-listed Australian copper miner with operating copper mines (Cracow, Mt Colin, Tritton), directly comparable as a small-to-mid cap Australian copper producer. Both companies sell copper concentrate and cathode into global markets and share the same target customer base of smelters and traders.
• 29Metals: ASX-listed Australian copper-zinc producer (Golden Grove, Capricorn Copper), directly comparable as a small-cap Australian copper miner with multiple operating assets. Both companies focus on base metals production in Australia and serve the same global smelter/trader customer base.
• Hillgrove Resources: ASX-listed Australian copper miner with the Kanmantoo copper mine in South Australia, directly comparable as a small-cap Australian copper producer with brownfield/restart characteristics similar to Cyprium's Nifty.
• AIC Mines: ASX-listed Australian copper miner (Jericho, Eloise), closely comparable as a small-cap Australian copper producer with multiple Queensland and similar Western Australian-style operations targeting the same global copper cathode and concentrate market.

Emerging players

• Hot Chili: ASX-listed copper developer advancing the Costa Fuego copper-gold project in Chile, comparable as an emerging copper development story in the small-cap copper developer peer set. Both companies are pre-production copper developers targeting future copper cathode/concentrate production.
• KGL Resources: ASX-listed Australian copper developer advancing the Jervois copper project in the Northern Territory, comparable as a small-cap Australian copper developer in the pre-construction or early production stage with similar investor profile and target market.
• Rex Minerals: ASX-listed Australian copper-gold developer with the Hillside project in South Australia, comparable as a small-cap Australian copper developer focused on advancing a multi-decade copper asset toward production, similar in stage and size to Cyprium.

Broad incumbents

• Capstone Copper: TSX-listed mid-tier global copper producer with operations in the Americas, broadly comparable as a copper-focused producer with SX-EW and concentrator operations, though at significantly larger scale and in different geographies than Cyprium's Australian single-asset focus.
• BHP: ASX-listed global diversified mining major with significant copper exposure (Olympic Dam, Escondida, Pampa Norte), broadly comparable as a copper producer in the broader industry context. BHP's acquisition of OZ Minerals brought significant Australian copper assets into its portfolio, but its scale, diversification, and integration differ substantially from Cyprium's single-asset restart profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xtwitter.com/CypriumMetals
• LinkedInlinkedin.com/company/cyprium-metals-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds6 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cyprium Metals