Kapunda Copper Joint Venture
- In August 2017, Terramin entered into an agreement with Environmental Copper Recovery Pty Ltd (ECR).
- Project involves potential low-cost in situ recovery (ISR) of copper.
- Location: near Kapunda, South Australia, approximately 90 km north of Adelaide.
- Focus: extracting copper from shallow oxide ores around the historic Kapunda Mine.
- Status: Significant test work has been undertaken which has confirmed the technical viability of extracting copper by means of ISR. The SA Department of Energy and Mining has recently approved in ground test work utilising lixiviant with this work being undertaken in May/June 2025.
Joint Venture Structure
- September 2020: ECR earned a 50% interest in the project area after investing $2.0 million.
- April 2025: ECR completed the investment of an additional $4.0 million to earn a further 25% interest.
- ECR holds 75% of the project.
- Terramin will retain 25% ownership and receive a 1.5% royalty on all metals extracted.
Resource Estimate
- Combined Resource Estimate:
- 47.4 million tonnes at 0.25% copper.
- Contains approximately 119,000 tonnes of copper.
- Based on a 0.05% copper cut-off grade.
- The estimate only includes:
- Mineralisation amenable to ISR (copper oxides and secondary copper sulphides).
- Shallow mineralisation within 100 metres of surface.
Collaboration with OZ Minerals (subsidiary of BHP Limited)
- In September 2022, ECR announced a technical collaboration agreement with OZ Minerals Limited.
- OZ Minerals committed $2.5 million toward advancing the Kapunda ISR copper project.
