Norfolk Metals has overhauled its boardroom, appointing two seasoned mining executives to lead the company through a strategic transformation centred on a major copper acquisition in northern Chile. The changes take effect immediately, positioning the junior miner to execute what it describes as a landmark deal in one of the world's premier copper-producing regions.

New leadership takes the helm at Norfolk Metals

Anthony McClure has been named executive chairman, bringing more than 35 years of experience across technical, management and financial roles in the global resources sector. A geology graduate of Macquarie University, McClure has held board positions with Strickland Metals, Gateway Mining and Silver Mines, giving him a well-established track record in the industry.

Joining him as a non-executive director is geologist Richard Pugh, who holds an exploration and resource geology degree from Cardiff University and carries more than 18 years of industry experience. Pugh currently serves as chief executive of Gateway Mining and previously held executive technical and non-executive director roles at Strickland Metals, as well as senior consulting and exploration management positions across several resources companies.

The pair join existing non-executive director Leonardo Pilapil on the refreshed board. Their appointments follow the departure of executive chairman Ben Phillips, who had served as a director since July 2021. Solicitor Sleiman Majdoub has also been brought on as joint company secretary alongside Arron Canicais, adding corporate, commercial and legal expertise to the broader management team.

The Ciclón copper project: Norfolk's flagship acquisition target

The boardroom shake-up is directly linked to Norfolk's proposed acquisition of the Ciclón copper project in northern Chile, a deal valued at US$45 million (approximately A$67.5 million) in cash plus US$5 million (A$7.5 million) in shares. If completed, Ciclón would become the company's flagship asset and the cornerstone of its copper strategy.

The project sits within Chile's Domeyko Cordillera copper belt, a region that hosts some of the world's largest mines including Collahuasi, Chuquicamata and La Escondida. Ciclón carries a JORC-compliant mineral resource of 11.8 million tonnes grading 2.88 per cent copper equivalent, comprising 8 million tonnes in the higher-confidence indicated category at 2.93 per cent and 3.8 million tonnes inferred at 2.80 per cent. The polymetallic deposit also contains credits of zinc, lead, silver and gold.

What sets Ciclón apart from many exploration-stage targets is its advanced development status. The brownfields asset comes with more than 40,000 metres of historical drilling, a feasibility study completed in 2021, and permits covering three underground mining operations, as well as a processing plant and tailings facilities already in place.

McClure described the resource as demonstrating "the quality and scale of the Ciclón Copper Project," adding that the company views the deal as a compelling acquisition opportunity for Norfolk.

To fund the purchase and subsequent exploration work, Norfolk is planning a capital raise of between A$100 million and A$120 million. Following settlement, management intends to launch a proposed 53,000-metre drilling campaign across its Chilean portfolio.

Carmen project adds depth to Chile copper portfolio

Alongside Ciclón, Norfolk holds the Carmen copper project in Chile's Atacama region. An inaugural drilling campaign there returned encouraging results, including a 53-metre intercept grading 1.1 per cent copper from 62 metres depth. The project presents a dual-track opportunity, with near-surface oxide copper potentially amenable to heap-leach processing and deeper sulphide targets offering further upside.

Legacy assets shed as Chilean focus sharpens

As part of its strategic pivot, Norfolk has divested itself of non-core holdings. Its Roger River exploration licence in Tasmania expired in August and the company now holds no ground in the state. Its Orroroo uranium project in South Australia is under review for a potential joint venture or divestment, reflecting management's intent to concentrate resources firmly on its Chilean copper ambitions.