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Highlights
- Cyprium Metals cancels planned Cue Project divestment
- Full ownership secured of the Paterson Exploration Project
- Strategic review underway for non-core exploration assets
Cyprium Metals (CYM), a copper-focused developer aiming to restart production at the Nifty Copper Complex in Western Australia, has announced the cancellation of its proposed divestment of the Cue Project to Q Resources Pty Ltd. This decision follows a mutual agreement between the two parties and was initially announced on March 21, 2025.
The company recently regained 100% control of the Paterson Exploration Project after its joint venture partner decided to withdraw. With this significant change, Cyprium Metals is undertaking a comprehensive review of its strategic plans regarding non-core greenfield exploration assets, including the Cue Project. Until this review concludes, the Cue Project will remain a key part of Cyprium’s portfolio.
In a statement, Cyprium noted that its exploration team is focused on integrating geological data obtained from IGO Limited (ASX:IGO) and identifying new exploration priorities that can fuel the company's long-term growth prospects. Once this internal review is finalized, all strategic options for the non-core assets, including tenements within both the Paterson and Cue portfolios, will be reassessed.
While exploration activities are ongoing, Cyprium’s primary commitment remains on recommencing production at the Nifty Copper Complex. The company anticipates providing shareholders with updates on progress in the near term.
The development concerning the Cue Project follows Cyprium’s recent milestone of securing full ownership of the Paterson Exploration Project. After IGO Limited (ASX:IGO) formally withdrew from their joint venture agreement effective April 30, 2025, Cyprium assumed complete control over an extensive package of 34 tenements, covering approximately 1,938 square kilometres in the renowned Paterson Province.
The Paterson Exploration Project encompasses six mining leases, 17 exploration licences, and 11 prospecting licences. The region is well-regarded for hosting major copper and gold deposits such as Nifty, Maroochydore, Telfer (operated by Newmont Corporation (NYSE:NEM)), and Winu (owned by Rio Tinto Limited (ASX:RIO)).
Since the partnership began in 2020, IGO invested around A$24 million into exploration efforts, contributing to over 36,000 metres of drilling across the tenement package. Significant prospects identified during this time include Rainbow, NB02, NB08, MB01, and NL05 — the latter exhibiting promising geophysical characteristics similar to the Winu discovery.
With strengthened control over its assets and a renewed strategic focus, Cyprium Metals is positioning itself for a new phase of growth and exploration success in Western Australia's mineral-rich terrains.
