Leigh Creek Copper Mine

Leigh Creek Copper Mine – Sale Agreed

Strategic Minerals has agreed the sale of its Leigh Creek Copper Mine project. Completion of the transaction remains subject to conditions, including Australian Foreign Investment Review Board (FIRB) approval.

Layered consideration provides ongoing exposure to copper upside and supports reinvestment into Redmoor.

The sales terms comprise: cash consideration totalling A$750,000, share consideration of up to A$3,000,000, a Net Smelter Royalty of 2% attached to the first 24,900 tonnes of copper production, with a 1% buy-out option upon payment of A$1,500,000, and arn-out payments from the commencement of commercial production, representing 20% of half-yearly Operating Cash Flows up to the value of A$4,000,000.

Background

Held via our Leigh Creek Copper Mine subsidiary, the project is situated in the Flinders Ranges, a copper rich belt of South Australia. The project covers 935 km² across three exploration leases containing multiple copper deposits, close to infrastructure. The project areas have been subject to significant historical exploration and some past production.

In 2025, Strategic Minerals granted an option to a potential buyer of the project. Strategic Minerals has now agreed the sale of the Leigh Creek Copper Mine project to South Pacific Mineral Investments Pty Ltd, trading as Cuprum Metals. Completion of the transaction remains subject to certain conditions, including Australian Foreign Investment Review Board (FIRB)_approval.

The sale forms part of Strategic Minerals' strategy to rationalise its portfolio around its core assets and maximise value creation, while retaining exposure to the future success of Leigh Creek through a shareholding, royalty and earn-out arrangements.