Cupric, which is owned by its management and the Global Natural Resource Investments (formerly Barclays Natural Resources Investments) was formed in 2010 with a goal to acquire undeveloped copper assets with a known resource. The management of Cupric is comprised of former executive and technical leadership of major mining companies, including Phelps Dodge Corporation and its successor, Freeport McMoRan Copper & Gold Inc. (which acquired Phelps Dodge in 2007). The Cupric team has decades of experience in the exploration, development, construction and operation of world-class open pit and underground mines, processing facilities, and infrastructure.