Cuprum Metals raises $19.4M Series A to accelerate Copper Extraction Technology

Cuprum Metals Inc., a Delaware-based technology company, has successfully secured $19.4 million in a Series A funding round aimed at advancing its innovative copper extraction technology. The funding, which closed on June 18, 2026, was led by the Lundin Family Office and supported by notable investors including Woodline Partners and BHP Ventures. The capital will be allocated to scaling Cuprum's patented leaching technology, which has demonstrated robust performance in pilot campaigns involving various ore types.

Cuprum Metals specializes in a water-based chemical leaching process that can utilize seawater, allowing for high recovery rates and significantly reduced processing times. This technology has shown effectiveness across primary, secondary, and oxide ores in both heap leach and vat leach systems. The company’s approach is particularly noteworthy for its ability to leach chalcopyrite and other traditionally challenging minerals while minimizing operating and capital costs. The funding will facilitate the expansion of Cuprum's technology into a broader range of copper assets, as stated by Roger Pettman, the company's Founder and CEO.

The strategic rationale behind the investment is underscored by the increasing global demand for copper, driven by its essential role in various industries, including renewable energy and electric vehicles. The investors recognize that Cuprum's innovative leaching technology has the potential to unlock greater value from existing resources and enhance operational efficiency within the copper sector. BHP Ventures and Woodline Partners have expressed confidence in Cuprum's ability to address the industry's supply gap by providing flexible solutions for copper recovery from diverse feedstocks, including sulfide ores and tailings.

Cuprum's technology has been validated through extensive testing across multiple international sites, including regions in South Africa, the United States, Chile, and Australia, where it has achieved recovery rates exceeding 75% from chalcopyrite ores. The company’s ore-agnostic approach, which requires less acid compared to conventional oxide leaching processes, positions it favorably within the market. The funding will not only support the commercial deployment of this technology but also enhance Cuprum's technical capabilities and workforce.

The successful fundraising round reflects a broader trend in the mining and materials sectors, where innovative technologies are increasingly being recognized as critical to meeting the growing demand for metals. As the industry faces challenges related to resource depletion and environmental sustainability, solutions like Cuprum's chemical leaching technology may play a pivotal role in reshaping copper extraction practices. The ongoing support from prominent investors indicates a strong belief in the potential for such technologies to drive efficiency and sustainability in the mining sector.