Business · Companies · 2 hrs ago
Norfolk Metals appoints new leaders as it pursues Chile copper project
Norfolk Metals appointed Anthony McClure as executive chairman and Richard Pugh as a non-executive director, replacing outgoing executive chairman Ben Phillips.
The Australian company says the appointments support its shift towards copper projects in Chile.
It is pursuing the proposed acquisition of the Ciclón Copper Project in northern Chile, which would become its main asset if the deal goes ahead.
The project has a reported resource of 11.8 million tonnes containing copper, zinc, lead, silver and gold, and includes existing permits and facilities.
Norfolk plans to raise A$100 million to A$120 million to fund the acquisition and further exploration.
If the deal is completed, the company proposes a 53,000-metre drilling campaign across its Chilean projects.
Norfolk Metals appointed Anthony McClure as executive chairman and Richard Pugh as a non-executive director.
The appointments support the company’s proposed acquisition of the Ciclón copper project in northern Chile.
The proposed deal comprises US$45 million in cash and US$5 million in shares.
Ciclón has a reported JORC-compliant resource of 11.8 million tonnes grading 2.88 per cent copper equivalent.
Norfolk plans to raise A$100 million to A$120 million to fund the acquisition and exploration.
- Who
- Norfolk Metals appointed Anthony McClure as executive chairman and Richard Pugh as a non-executive director.
- What
- The company refreshed its leadership as it pursues the proposed acquisition of the Ciclón copper project.
- When
- The appointments were announced on October 13, 2026; McClure’s appointment was effective immediately.
- Where
- The Ciclón project is in northern Chile.
- Why
- Norfolk said the leadership changes support its strategic focus on copper and the proposed Ciclón acquisition.
This story does not have two clearly opposing sides.
Norfolk’s maiden drilling campaign at the Carmen copper project returned a 53-metre intercept grading 1.1 per cent copper from 62 metres.
Norfolk’s Roger River exploration licence in Tasmania expired.
Norfolk announced the appointments of Anthony McClure and Richard Pugh.
- Executive chairman
- Anthony McClure
- Non-executive director
- Richard Pugh
- Proposed Ciclón purchase price
- US$45 million in cash and US$5 million in shares
- Ciclón resource
- 11.8 million tonnes grading 2.88 per cent copper equivalent
- Planned fundraising
- A$100 million to A$120 million
What people are saying
Norfolk’s transformational acquisition of the Ciclón Copper Project offers the perfect opportunity to reposition the Company
The reported JORC Resource highlights the quality and scale of the Ciclón Copper Project and reinforces our view that this is a compelling acquisition opportunity for Norfolk.
Sources
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