{"id":6771,"date":"2024-07-26T03:42:42","date_gmt":"2024-07-26T03:42:42","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/07\/26\/cyprium-and-glencore-announce-commercial-strategic-partnership\/"},"modified":"2024-07-26T03:42:42","modified_gmt":"2024-07-26T03:42:42","slug":"cyprium-and-glencore-announce-commercial-strategic-partnership","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/07\/26\/cyprium-and-glencore-announce-commercial-strategic-partnership\/","title":{"rendered":"Cyprium and Glencore Announce Commercial Strategic Partnership"},"content":{"rendered":"<p><strong>Cyprium Metals Limited<\/strong> (ASX: CYM) (Cyprium or the Company) is pleased to advise that it has entered into a Commercial Strategic Partnership with Glencore International AG (Glencore) to accelerate the resumption of copper production from the Company\u2019s Nifty copper complex (Nifty) in Western Australia near Port Hedland. <\/p>\n<p><strong>Highlights include:<\/strong><\/p>\n<p>Executed cathode offtake term sheet to sell cathode products to Glencore on commercial terms for a fixed term, thereafter mutually extendableOfftake contract adds resilience to restart cathode production through acceptance of off-spec cathode materials at Glencore\u2019s refinery in Townsville, QueenslandCyprium to enter into sulphuric acid supply agreement with Glencore on commercial termsA$20 million Prepayment \/ Working Capital Facility on copper production, subject to final agreementsExecuted concentrate offtake term sheet for the sale of 100% of the copper concentrate production from the new surface mine at Nifty, as available, to Glencore International AG on commercial terms commencing immediately following commercial production for a fixed term, thereafter mutually extendable.Glencore to make all reasonable efforts to consider delivering Nifty concentrates to its Mt Isa SmelterGlencore Technology to provide technical support to CypriumThe agreement provides for a limited period of exclusivity during which Cyprium and Glencore endeavour to execute final contracts<\/p>\n<p><em>\u201cGlencore is a great strategic partner for us,\u201d<\/em> said Cyprium Executive Chair Matt Fifield. <em>\u201cWe 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\u2019s two processing plants, <\/em><em>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.\u201d<\/em><\/p>\n<p>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\u2019s two processing plants will be purchased by Glencore, importantly including off-spec materials that are frequently produced during a startup period.<\/p>\n<p>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\u2019s favourable copper market dynamics. <\/p>\n<\/p>\n<p><strong>Click here for the full ASX Release<\/strong><\/p>\n<div><\/div>\n<\/p>\n<div>This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cyprium Metals Limited (ASX: CYM) (Cyprium or the Company) is pleased to advise that it has entered into a Commercial Strategic Partnership with Glencore International AG (Glencore) to accelerate the resumption of copper production from the Company\u2019s Nifty copper complex (Nifty) in Western Australia near Port Hedland. Highlights include: Executed cathode offtake term sheet to [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":6772,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-6771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/6771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=6771"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/6771\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/6772"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=6771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=6771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=6771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}