Cuprum Metals Raises $19.4M Series A for Copper Extraction

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Cuprum Metals, a copper extraction technology company based in Boulder City, Nevada, has closed a $19.4 million Series A round. The financing, announced on June 18, 2026, was led by the Lundin Family Office, with support from Woodline Partners and BHP Ventures. The round brings the company’s total known funding to roughly $22.1 million, following a seed round of about $2.75 million in early 2025.

Cuprum was founded in 2024 by a team of experienced chemical professionals who came at the problem from a chemistry and chemical engineering angle rather than the traditional mining or metallurgy viewpoint. That difference in approach shapes the technology at the center of the company.

The capital will go toward scaling Cuprum’s patented leaching technology, which has performed well in pilot campaigns across primary, secondary, and oxide ores in both heap leach and vat leach systems. The process uses a water-based chemical leach, with the flexibility to run on sea water, and is built to achieve high recovery rates at faster processing times. It can effectively leach chalcopyrite and other minerals that have long been difficult to process, while cutting both operating and capital costs.

The performance numbers help explain the investor interest. Recoveries typically exceed 75% from predominantly chalcopyrite ore within 100 days. Test work has been carried out at mines around the world, including in South Africa, the US, Chile, and Australia, with strong results across the board.

The funding will support continued commercial deployment, an expansion of the company’s technical capabilities, the hiring of key personnel, and the growth of its customer base as it moves its technology toward wider use.