Mining firm Copper 360 Limited resumed underground mining operations at the Rietberg Mine in South Africa’s Northern Cape Province, after a 40-year mine closure.
The reopening is part of Copper 360’s strategic shift from solely producing copper plates to generating 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,” stated Jan Nelson, CEO of Copper 360.
Rietberg Mine is situated on 19,000 hectares of land, holding 12 prospective mines and 60 historical prospects, slated for re-development by Copper 360 Limited as part of its Cluster Mining Model. The firm will conduct mining at Rietberg over a period of 16 years, driving employment creation and the growth of the local economy.
