Highlights include:
“Glencore is a great strategic partner for us,” said Cyprium Executive Chair Matt Fifield. “We continue to execute our plan to resume copper production at Nifty. 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.”
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. Copper products from Nifty’s two processing plants will be purchased by Glencore, importantly including 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. Terms and conditions are at market and reflect today’s favourable copper market dynamics.
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