EnviroCopper has secured a $3.5 million investment to advance its Kapunda and Alford copper in-situ recovery (ISR) projects in South Australia with feasibility and technical work.
The funding is part of a signed collaboration partnership with an undisclosed international company to progress the feasibility work at its Kapunda and Alford Copper ISR Projects.
The international company will be eligible to convert its funding scheme into a 16.8% shareholding in EnviroCopper within the five-year period, surpassing Alligator Energy’s (ASX:AGE) 15.61% stake.
EnviroCopper’s Managing Director Leon Faulkner says the company intends to build on the existing ISR team and knowledgebase.
“This collaboration partnership reinforces the potential of alternative recovery processes like in-situ recovery to become an environmentally sustainable and economical path to recover copper minerals,” Faulkner says.
Alligator CEO Andrea Marsland-Smith describes the investment as a “pivotal step” to progress work required for the ISR copper projects to reach development.
“For Alligator, it both supports the investment that Alligator made into EnviroCopper, and strengthens the pathway to potential future ISR copper production,” Marsland-Smith says.
“Importantly, the collaboration also highlights growing international recognition of the strategic importance of environmentally responsible copper production methods.
“We are pleased to see EnviroCopper advancing rapidly towards feasibility, and this funding, alongside the technical input from our new partner, reinforces confidence in the long-term value these ISR projects can deliver.”
Alligator Energy is a uranium and energy metals explorer focused on advancing its portfolio of assets in the Northern Territory and South Australia.
EnviroCopper is an ISR specialist, focusing on sustainable mining of metals including copper and gold.
Write to Maddison Elliott at Mining.com.au
Images: EnviroCopper
