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Australia
Nifty OP Mine (Nifty)

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 Location:
514 km SW from Derby, Western Australia, Australia

  Project Contacts:
Level 5, 197 St Georges Terrace PO Box 7248 Cloisters Square PO WA 6850
Perth
Western Australia, Australia
6000
Phone  ...  Subscription required
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Personnel
  • Filings & News

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Overview

StageRestarting
Mine TypeOpen Pit
Commodities
  • Copper
Mining Method
  • Truck & Shovel / Loader
Mine Life6.3 years (as of Jan 1, 2022)
The Restart is focused around the first phase of heap leach retreat and oxide open pit, and it is envisaged that the life will extend to the sulphide stage of the open pit with a considerably larger resource available. The sulphide study has already commenced with design optimisation and metallurgical testwork currently being undertaken.


Owners

Source: p. 4
CompanyInterestOwnership
Nifty Copper Pty Ltd. (operator) 100 % Direct
Cyprium Metals Ltd. 100 % Indirect
The tenure is held via Cyprium’s 100%-owned subsidiary, Paterson Copper Pty Ltd, with the Nifty mine and infrastructure and associated tenure held by Cyprium’s operating subsidiary Nifty Copper Pty Ltd.

Contractors

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Deposit Type

  • Sediment-hosted


Summary:

The Nifty copper deposit is a sediment hosted copper deposit hosted within the Neoproterozoic sub greenschist facies of the Paterson Orogen, immediately to the east of the Archaean Pilbara Craton.

Copper mineralisation occurred/s as both supergene oxide, sulphide, and transitional mineralisation to a depth of approximately 300m and as stratabound hypogene sulphides hosted by carbonaceous and dolomitic shales, principally within the Nifty carbonate member, to a depth of approximately 600m. The mineralisation is a structurally controlled, chalcopyrite-quartz-dolomite replacement of carbonaceous and dolomitic shale within a folded sequence. The copper mineralisation is largely confined to the northern limb and keel of a significant syncline.

Weathering has altered the mineralisation to a depth of about 200m and therefore three main styles of copper mineralisation occur at Nifty:
1. Oxide dominated mineralisation consisting of malachite, azurite, cuprite, and native copper which extends to depths of up to 100m below the surface.
2. Supergene secondary sulphide mineralisation occurs overlying the base of oxidation. This style of mineralisation is dominated by chalcocite and occurs typically between 100m and 200m below the surface.
3. Primary sulphides occur in quartz-dolomite altered carbonates and shales. The primary copper mineral is chalcopyrite with minor covellite and bornite. Pyrite is a common gangue mineral but only occurs with chalcopy ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

Open pit mining operations are planned to be re-established to provide heap leachable ores to the redeveloped existing heap leach pad. The original project commenced with open pit mining in 1993 and was focused on the relatively high-grade part of the oxide mineralisation but closed in 2006 when open pit economics became marginal and site focus was on the large and rapidly developing underground sulphide operation.

The proposed mining sequence is best described as dividing the open pit into east and west cutbacks. The eastern cutback will be developed first to access higher grade ore near surface and will encroach into the influence of the existing underground subsidence zone. Further discrete phases and cutbacks will need to be developed in such a manner as to deal with any geotechnical stability issues in the subsidence zone to re-establish a stable berm batter configuration.

The optimum open pit shell is based on the maximum un-discounted operating cashflow which reached a depth of 10,085mRL or approximately 225m below surface.

The overall slope angles within the proposed pit will vary between 30 – 38 degrees, similar to the historic open pit and reviews of the available structural and rock mass data indicates inter-ramp angles of up to 50 degrees may be possible within certain domains of the final excavation.

The planned operating areas are large enough to support two mining fleets directing waste and ore to distinctly separate facilities.


Crushing and Grinding


Processing

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Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Copper M lbs 55322
All production numbers are expressed as cathode.

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Annual production capacity  ......  Subscription required
* According to 2022 study.
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Reserves at May 16, 2022:
Cut-off grade 0.25% Cu

CategoryTonnage CommodityGradeContained Metal
Measured 48.7 Mt Copper 1.1 % 524,700 t
Indicated 27.6 Mt Copper 1 % 263,400 t
Inferred 18.8 Mt Copper 0.8 % 152,100 t
Total Resource 95.1 Mt Copper 1 % 940,200 t

Commodity Production Costs:

CommodityUnitsAverage
C1 cash costs Copper USD  ......  Subscription required&nbs
C2 total cash costs Copper USD  ......  Subscription required&nbs
C3 fully allocated costs Copper USD  ......  Subscription required&nbs
Assumed price Copper USD  ......  Subscription required&nbs
* According to 2022 study / presentation.
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2022 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M AUD  ......  Subscription required
Sustaining CapEx $M AUD  ......  Subscription required
Closure costs $M AUD  ......  Subscription required
Total CapEx $M AUD  ......  Subscription required
OP OpEx $M AUD  ......  Subscription required
Processing OpEx $M AUD 334.7
Freight costs $M AUD 17.1
Total OpEx $M AUD  ......  Subscription required
Income Taxes $M AUD  ......  Subscription required
Royalty payments $M AUD  ......  Subscription required
Gross revenue (LOM) $M AUD  ......  Subscription required
EBITDA (LOM) $M AUD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M AUD  ......  Subscription required
After-tax Cash Flow (LOM) $M AUD  ......  Subscription required
After-tax NPV @ 7% $M AUD  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Oct 24, 2022
....................... Subscription required ....................... Subscription required Subscription required Oct 24, 2022
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Staff:

EmployeesYear
Subscription required 2022

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Corporate Presentation 2022
Half-year Report 2022
Technical Report 2022
................................... Subscription required 2021
................................... Subscription required 2020
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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