The HOA signed between the two parties aims to expedite Cyprium’s redevelopment efforts at the Nifty Copper Complex. Credit: Ziadi Lotfi/Shutterstock.

Cyprium Metals has entered a strategic alliance with Macmahon Holdings to accelerate the redevelopment of the Nifty Copper Complex in Western Australia.

A non-binding heads of agreement (HOA) was signed between the two parties, aiming to expedite Cyprium’s redevelopment efforts at Nifty, with Macmahon taking a lead role in the bankable feasibility study (BFS).

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Macmahon will contribute engineering, planning, estimation and project management resources to complete the BFS and restart copper production. Cyprium will fund BFS costs for work not completed by Macmahon.

The BFS will build on Cyprium’s 2024 pre-feasibility study (PFS), which highlighted an opencast mine as the economic approach, including a refurbished copper plant with a capacity of 694,000 tonnes over 20 years.

Cyprium executive chair Matt Fifield said: “The Strategic Alliance with Macmahon represents a significant step forward in enhancing our operational and execution capacity, building required capability through partnership. Macmahon is a recognised leader in mining services, bringing extensive expertise in engineering, procurement and best-in-class operating and environmental systems.

“Their operations align with the scale required for the new open-pit development at Nifty. They operate at the scale of mine and equipment that a new open pit at Nifty will require. Macmahon’s expertise brings real-life experience to the feasibility process that further de-risks Nifty and sets parameters of our execution plans.

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“It is clear that Cyprium and Macmahon share a common vision for long-term success – deliver on the 20-year reserve life potential of the Nifty Copper Complex and exploit accretive near-term revenue opportunities. Expect more on this in 2025 as we turn study work into actionable plans.”

The HOA includes an exclusive period for progressing feasibility studies and executing an alliance-style life-of-mine contract.

This contract is expected to cover all site operations including surface mining, concentrator refurbishment, cathode start-up and infrastructure.

The exclusive period begins with the execution of the early contractor involvement (ECI) contract. Site operations at Nifty will commence upon execution of the ECI contract.

Macmahon will also explore alternate start-up scenarios to reduce capital and time-to-revenue generation.

The key objective is to shorten project timelines proposed in the PFS, which detailed a 17-month construction period.