ASX-listed Cyprium Metals on Friday announced a commercial strategic partnership with commodities major Glencore to accelerate the resumption of copper production from the Nifty mine near Port Hedland, Western Australia.

The strategic partnership focuses on four areas that relate to the resumption of copper production from Nifty: cathode offtake, sulphuric acid supply, concentrate sales, and technical support.

Glencore will purchase copper products from Nifty’s two processing plants. This includes off-spec materials that are frequently produced during a startup period. The cathode offtake contract covers the sale and purchase of 100% of cathodes produced and delivered to Port Hedland, and has an initial fixed term, thereafter mutually extendable.

“We have been following Cyprium’s growing capabilities and are pleased to support the phased approach to redeveloping Nifty through this strategic commercial relationship,” a spokesperson of Glencore commented.

Cyprium’s sale contract for copper concentrate would run from 2026, the earliest likely date that Nifty might produce concentrate. Terms are also at market price with optionality around delivery points, through the life of the contract.

Cyprium executive chairperson Matt Fifield described Glencore as a “great strategic partner”.

“This commercial partnership gives us certainty of revenue during the crucial startup phases of Nifty’s two processing plants, removes uncertainty in sourcing a key input into cathode production, and aligns with creating and maintaining a strong Australian job base in the ultimate critical mineral, copper.”

With the relationship in place, Cyprium will accelerate plans for constructing a new surface mine at Nifty to produce concentrate at scale for Glencore.

“Extending today’s low TC/RCs to tomorrow’s sales is a clear commercial win for Cyprium and its shareholders. More importantly, it is also a win for both WA mining jobs and for Queensland processing jobs,” Fifield said.

Other aspects of the commercial partnership include an option for Cyprium to purchase sulphuric acid to eliminate uncertainty in supply, technical support from Glencore Technology, and a working capital facility that will allow for the effective purchase point of cathodes to move from Port Hedland to Nifty mine site.

The Cyprium board has endorsed the commercial strategic partnership. Cyprium and Glencore have agreed to a limited exclusivity period during which binding agreements will be executed.

“We are excited: this partnership delivers transparent pricing and access to global markets with a leading partner, derisks the restart, and allows our Cyprium team to remain intensely focused on planning and execution,” said Fifield.