NVRO Metals Hub Establishes Resource Foundation for Critical Metals Production

NVRO Metals Ltd. has secured an updated NI 43-101 compliant resource estimate for its proposed Metals Hub in Australia’s Northern Territory, outlining 780 million pounds of copper alongside significant cobalt, nickel, and zinc. The Vancouver-based company is acquiring the site through a $20 million purchase of Northern Territories Resources, gaining access to a $148 million hydrometallurgical processing plant. This move marks a strategic shift for NVRO from a mining technology startup to an integrated critical metals producer, supported by a preliminary offtake and financing agreement with Swiss trading house Transamine.

NVRO Metals is finalizing the $20 million acquisition of Northern Territories Resources Pty Ltd., an Australian firm that entered insolvency before reaching commercial production at a site 68 miles south of Darwin. An updated resource calculation for the project identifies 77.6 million metric tons of measured, indicated, and inferred resources, containing approximately 784.8 million pounds of copper, 4 billion pounds of lead, 683.4 million pounds of zinc, 153.9 million pounds of cobalt, and 136.9 million pounds of nickel. Notably, 94% of this resource is classified in the high-confidence measured and indicated categories, backed by more than $40 million in historical drilling investment.

The acquisition includes a $148 million hydrometallurgical processing plant, which NVRO plans to use as a platform for its proprietary NVRO Process technology. This technology is designed to recover metals and sulfides from mine tailings and complex ores, simultaneously creating revenue and neutralizing acid-generating materials. Initial operations will focus on the upper oxidized portion of the deposit—comprising 15.9 million metric tons—which is more amenable to the existing electrowinning circuits. CEO Grant Freeman stated that the integration of this infrastructure and technology provides a foundation for the company’s broader strategy of becoming a key participant in the global critical minerals supply chain.

To support the launch, NVRO has entered a nonbinding heads of agreement with Geneva-based Transamine SA for the offtake of copper cathode and up to $25 million in commodity-linked financing for refurbishment and commissioning. Beyond the Australian site, NVRO is leveraging its technology to evaluate third-party feedstocks, including a potential project at Hecla Mining Company’s Greens Creek silver mine in Alaska. Bench-scale testing at Greens Creek has already demonstrated recovery rates of 98.1% for silver and 99.5% for gold from tailings estimated to contain $6.8 billion in metals. The Northern Territory hub will serve as a commercial proving ground for these technology deployments while providing near-term revenue from onsite resources.