Cyprium cements commercial partnership with Glencore
ASX-listed Cyprium Metals has closed a senior secured loan facility and executed an offtake agreement with Glencore, cementing its commercial partnership with the commodities major.
Glencore will provide a senior secured loan facility of $27.3-million, with a four-year term to Cyprium.
The funds will be used to repay an existing senior secured facility and advance early works and feasibility studies at the Nifty copper mine, on the western edge of the Great Sandy desert in Pilbara.
Executive chairperson Matt Fifield said the partnership with Glencore enabled additional investment in the restart planning for its flagship asset and extended the maturity of its senior secured debt to October 2028.
“Strategically, our offtake agreements give Cyprium access to Glencore’s downstream processing assets in Mt. Isa and Townsville, Queensland,” he said.
“This upstream-downstream integration allows us to jointly offer copper consumers a copper product produced and refined wholly within Australia – ensuring the best in provenance and security of supply,” stated Fifield.
“We are pleased to help accelerate Cyprium’s development plans through commercial partnership and financial support,” said Glencore head of copper marketing Jyothish George.
“By supporting our local and regional miners as they bring critical minerals and metals to market, we are helping maintain a vibrant Australian copper production base.”
Cyprium has retained the ability to sell a minority ownership interest in the Nifty copper complex and to offer proportionate physical offtake to an incoming joint venture party, subject to certain limitations and timelines.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
