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.
- ISR Trial Update (July 2025 – March 2026): Significant test work has been undertaken which has confirmed the technical viability of extracting copper by means of ISR. The joint venture received final regulatory approval and commenced the full in-situ recovery (ISR) trial using lixiviants in July 2025. The trial is ongoing with encouraging early results. Results are expected shortly, after which the joint venturers will complete the final financial evaluation of the ISR project. All trial costs continue to be funded by ECR at this stage.
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.
