After placing the Cement Paste Backfill (CPB) slurry in mined cavities underground, during the setting and hardening processes, the weight and hydrostatic pressure of the upper-layer CPB slurry applies an axial load over the bottom-layer CPB materials, which is called the self-consolidation of CPB slurry. Due to this phenomenon, the mechanical properties of in situ CPB could be considerably different from laboratory results. Hence, it is crucial to understand the effect of self-consolidation behaviour on the mechanical properties of backfill material. This paper presents an experimental study on the impact of axial applied stress (As) during curing, which represents the various self-consolidation conditions and curing times on the mechanical properties of CPB material prepared using the tailings of a copper mine in South Australia and a newly released commercially manufactured cement called Minecem (MC). A curing under pressure apparatus (CPA) is designed to cure CPB samples under axial applied stress. The equipment can apply and measure axial load during curing and measure the passive lateral stress due to axial load which represents the horizontal stresses at a certain depth of CPB stope on the retaining structure. The prepared samples with axially applied pressure during curing were tested under uniaxial and triaxial compressive loading conditions. Microstructural tests by scanning electron microscopy (SEM) were also used to study the fabric evolution in response to various applied stresses during curing. Overall, the increase in As during curing leads to higher resultant CPB peak strength and stiffness under uniaxial and triaxial compression tests. For instance, a sample cured under 3.6 MPa axial load for 28 days demonstrates a uniaxial compressive strength (UCS) value of five times more than a sample cured under atmospheric curing conditions. Passive lateral stress was measured during the curing period and was representative of underground barricade stress. Furthermore, during curing, the axial applied stress changed the initial CPB pore structure after placement. With the increase in applied stress, the stress compressed CPB samples at the macroscale, leading to much smaller pores or cracks prior to the hydration process. At an early stage, the increase in UCS due to axial applied stress mainly arises from a dense microstructure caused by the compression of tailings and cement particles. With the increase in curing time, the observation also shows that a CPB matrix with fewer pore spaces may improve the hydration progress; hence, the influence of axial applied stress becomes more pronounced in long-term UCS.