Copper 360 Restarts Operations at Rietberg Underground Mine

Copper 360 Limited has successfully commenced underground mining operations at its Rietberg Mine, marking a significant milestone for the company and a resurgence of copper production in South Africa's Northern Cape Province. This strategic development underscores Copper 360's commitment to unlocking the region's mineral potential and solidifies its position as a key player in the South African mining industry.

The reopening of the Rietberg Mine marks a pivotal achievement for the company, as it signifies the revival of copper mining in the O’Kiep Copper District (OCD) for the first time in over forty years, following its closure in 1983. This event is also a landmark moment in South Africa’s mining history, reinstating copper extraction in an area where the nation’s first mineral discovery was made in 1661.

With roots tracing back to the early 20th century, Rietberg Mine boasts substantial copper reserves. The renewed operations are poised to significantly boost the local economy, generating employment opportunities and bolstering community development initiatives within the Northern Cape region.

Rietberg is the initial phase of Copper 360's ambitious plan to reactivate a series of historical dormant mines originally developed by Newmont and Gold Fields. These mines, which feature defined ore bodies and established underground infrastructure, will be re-opened under Copper 360's Cluster Mining Model (CMM). The company holds mining rights over 19,000 hectares, encompassing 12 mines and 60 historical prospects, each supported by comprehensive datasets.

Jan Nelson, CEO of Copper 360, stated that the initiation of mining activities at Rietberg is a thrilling milestone, the result of years of meticulous planning. He emphasized that this event is not only a significant achievement for Copper 360 but also heralds a new era for the Northern Cape region. Nelson credited the company's executive and management team for their efforts and highlighted the resilience and determination of the Namaqualand people from the local communities who are integral to the Copper 360 team.

Jan added that the company is transitioning from producing copper plate to predominantly producing copper concentrate. This shift is crucial as it will generate 80% of the company's revenue, significantly boosting their cash margin. Nelson credited Chairman Shirley Hayes for her foresight in recognizing copper as a critical future metal and her determination to secure and develop the mineral area over 16 years. He added that this transition will also result in positive outcomes, including job creation and economic benefits for the local communities, both upstream and downstream.