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Johannesburg-listed Copper 360 has announced the restart of underground mining at the Rietberg mine in South Africa’s Northern Cape province. This marks the first time in more than four decades that copper has been mined from the O’Kiep district — the oldest formal mining area in the country.
The Rietberg mine has a rich history dating back to the early 20th century and still holds significant reserves. Its current resource estimate is nearly 4.8 million tonnes measured and indicated grading 1.27% copper, containing 60,800 tonnes of copper metal.
The restart also represents a historic milestone in South Africa’s mining history, with copper again being mined in an area which was the site of the first mineral discovery in the country in 1661. The Rietberg mine previously operated until 1983.
Copper 360 is initially targeting copper production of 12,000 tonnes per month at grades of 1.6% copper in situ, with ore being processed at its recently acquired Nama modular floatation plant. Plant recoveries of 75%-85% are being targeted during start-up, with previous tests reporting recoveries as high as 92%.
Production will then rise to 45,000 tonnes over four months as the second modular floatation plant the company is constructing gets commissioned, which is expected in the next two months.
“The commencement of mining activity at Rietberg is an exciting moment for us and the culmination of several years of planning; but inasmuch as it marks a milestone for Copper 360, it also signals the beginnings of a new era for the Northern Cape,” CEO Jan Nelson said in a news release.
Nelson added that it further transitions the company from only producing copper plate to
predominantly producing copper concentrate.
“This is significant as 80% of the company’s revenue will be generated from copper concentrate significantly growing the cash margin of the company,” he said.
The move is part of the company’s strategy of reviving a number of historical dormant mines in the area. These mines were initially developed by Newmont and Gold Fields, and have defined orebodies and established underground infrastructure.
Copper 360 presently holds a mining right across 19,000 hectares, where 12 mines and 60 historical prospects have been identified, each with its own comprehensive dataset. The company said it virtually owns 70% of the Northern Cape copper belt.
