Cyprium Metals (ASX:CYM) announces Glencore loan facility closure and offtake agreements execution

Cyprium Metals Limited (ASX:CYM) has successfully closed the Senior Secured Loan Facility with Glencore International AG and executed offtake agreements for copper products. The USD 27.3 million loan facility will be used for repayment of prior senior secured loan, working capital for Nifty early works, feasibility studies, and general corporate purposes. The offtake agreements provide Cyprium access to Glencore's downstream processing assets in Mt. Isa and Townsville, Queensland. The company also retains the ability to sell up to 30% direct ownership interests in Nifty copper complex.

Executive Commentary on Glencore loan facility closure and offtake agreements execution

This closing cements our strategic commercial partnership with Glencore, enables additional investment in the restart planning for our flagship asset, and extends the maturity of our senior secured debt to October 2028. Strategically, our offtake agreements give Cyprium access to Glencore's downstream processing assets in Mt. Isa and Townsville, Queensland. This upstream-downstream integration allows us to jointly offer copper consumers a copper product produced and refined wholly within Australia - ensuring the best in provenance and security of supply.

Summary of Glencore loan facility closure and offtake agreements execution

Cyprium Metals Limited has successfully closed a USD 27.3 million Senior Secured Loan Facility with Glencore International AG and executed offtake agreements for copper products. The loan facility will be used for repayment of prior senior secured loan, working capital for Nifty early works, feasibility studies, and general corporate purposes. The offtake agreements provide Cyprium access to Glencore's downstream processing assets in Mt. Isa and Townsville, Queensland, and the company retains the ability to sell up to 30% direct ownership interests in Nifty copper complex. The company's strategic partnership with Glencore and the financial support received are expected to accelerate production from the Nifty copper complex, offering proportionate offtake and direct mine ownership to discerning copper consumers and long-term investors. This move is set to bring long-term jobs to Western Australia, copper concentrates to Queensland's Northwest Mineral Province, and provide copper consumers with a secure and stable supply of copper with an uncompromisingly world-class provenance - Australia.