Copper 360 Begins Underground Production at Rietberg Mine in South Africa
Copper 360 has commenced underground mining operations at its Rietberg Mine in the Northern Cape Province of South Africa. This marks the first time in over 40 years that copper is being mined in the O'Kiep Copper District, an area with a rich mining history dating back to 1661. The reopening of Rietberg Mine is a major milestone for Copper 360 and for South Africa's mining sector.
The Rietberg Mine boasts a measured and indicated resource of 4,782,000 tonnes with a copper grade of 1.27%, equivalent to 60,800 tonnes of copper metal. Recent underground sampling from draw points has yielded copper values ranging from 1.54% to 6.08%.
Ore from Rietberg is being processed at the Nama Copper Modular Flotation Plant (MFP) 2, recently acquired from Mazule Resources. Initial production targets are set at 12,000 tonnes per month with a copper grade of 1.6%, expected to rise to 45,000 tonnes per month as MFP 1 becomes operational in the coming months. Plant recoveries are anticipated to be between 75% and 85%, with previous tests indicating potential recoveries of up to 92%.
The resumption of operations at Rietberg Mine is expected to have a significant positive impact on the local economy by creating employment opportunities and supporting community development initiatives in the Northern Cape region. This is part of Copper 360's Cluster Mining Model, which plans to reopen a number of dormant mines in the area, initially developed by Newmont and Gold Fields.
Copper 360 CEO Jan Nelson expressed excitement about the commencement of mining activities at Rietberg, highlighting it as a pivotal moment for both the company and the Northern Cape. He noted that the operation will transition Copper 360 from producing copper plate to predominantly copper concentrate, which will constitute 80% of the company's revenue and enhance its cash margin. Nelson credited Chairman Shirley Hayes for her foresight in recognizing copper's future significance and her determination to develop the mineral area over 16 years.
As Copper 360 continues its operations, the company anticipates job creation and economic benefits for the surrounding communities. The company's mining rights cover 19,000 hectares with 12 mines and 60 historical prospects identified, each with comprehensive datasets.
