Cuprum Metals, a Delaware-based mining technology company developing advanced copper leaching solutions, has raised $19.4 million in funding led by the Lundin Family Office, with participation from Woodline Partners and BHP Ventures.
Scaling Copper Recovery Technology
The new investment will support commercialization and scale-up of Cuprum’s patented leaching technology, which has demonstrated strong results across sulfide, oxide, and secondary copper ores in both heap and vat leaching systems.
“With support from our investors, we are now focused on scaling the technology and expanding its application across a broader set of copper assets,” said Roger Pettman, Founder, Chairman and CEO of Cuprum Metals.
Improving Copper Extraction
Cuprum’s water-based chemical leaching process is designed to recover copper more efficiently while reducing operating and capital costs. The technology can operate with seawater and is effective on challenging minerals such as chalcopyrite, which have historically been difficult to process.
Testing across mining projects in South Africa, the United States, Chile, and Australia has demonstrated copper recovery rates exceeding 75% within approximately 100 days.
Unlocking Value From Existing Resources
The technology can also recover copper from tailings and previously processed materials without requiring heat or biological treatment, creating new opportunities to extract value from existing mining assets.
“Technologies that can unlock more value from existing resources and improve processing efficiency are an important focus for BHP Ventures,” said Laurel Buckner, Vice President, BHP Ventures. “Cuprum Metals’ approach to chemical leaching has the potential to expand recovery pathways and support more flexible development options across different ore bodies.”
Growth Plans
The funding will be used to expand technical capabilities, grow the team, support commercial deployments, and increase adoption among mining customers worldwide.