Cyprium Metals (ASX:CYM) partnered with mining services provider Macmahon (ASX:MAH) to accelerate its redevelopment of the Nifty Copper Complex in Western Australia, according to a Thursday filing with the Australian bourse.
Macmahon will lead and contribute internal resources to complete the bankable feasibility study for the redevelopment through an Early Contractor Involvement (ECI) contract, the filing said.
After completing the ECI contract, it is expected the two companies will enter an exclusive period to agree on terms for a life-of-mine, whole-of-site, and alliance-style operations contract, according to the filing.
Cyprium Metals shares rose 4% while Macmahon shares fell 2% in recent trade.
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