Cape Town: Emerging copper giant Copper 360 will deploy a cluster mining model in its Northern Cape operation, updating predecessor Okiep Copper Company’s high yielding model.
Copper 360 holds more than 19 000 hectares with twelve ore bodies including Rietberg, Jubilee, Homeep, Klondike, Wheal Julia North, Whyte’s West, Koeëlkop, Hoogkraal and Waaihoek.
A Cluster strategy will enable the company to mine at various locations with a centralised processing facility in Nababeep.
Chair, Shirley Hayes, designed the twenty first century modelling for cluster mining in the area. She said: “Cost savings and resource operation optimization will increase efficiency tremendously and reduce production cost while mitigating risk at its opposite.”
Previously the Okiep Copper Company made history on the New York Stock Exchange in the 1960’s when it paid the highest dividend in history, at the time. Hayes said that it was as a direct outcome of the efficiencies that cluster mining affords.
Hayes said: “The cluster mining model offers investors the potential for improved profitability and long-term success. By reducing capital and operating costs, increasing efficiency, and diversifying risks, holds the potential for increased production and exploration of new revenue streams.”
She noted that potential gains in the long-term success of the model includes a sustainable and cost-efficient approach to mining, and cluster mining presents a compelling opportunity for investors looking to capitalize on the long-term growth potential of a Copper 360.
A recent drilling campaign confirmed historic data at two initial sites. Results confirmed the validity of the information in every aspect from geological rock type, type and quantity of mineralization and intersection widths and depths. Copper intersections of over 45m each were made just 30 m below surface. The company will continue with its drilling campaign.
Cluster mining also offers environmental benefits. Hayes said: “It reduces the environmental footprint of mining activities, simplifying the reclamation process, conserving water resources, and diversifying environmental risks associated with mining activities. These benefits can help to minimize the impact of mining on the environment”.
Copper 360’s plant in Nababeep already produces copper by recycling historical dumps using technology that minimises any environmental impact, while simultaneously restoring the area to its natural habitat. Hays said the cluster mining strategy affords the company’s mining activities a similar opportunity to take better care of the environment.
Copper 360 will be listed on the ALTX board of the Johannesburg Stock Exchange.
About Copper 360:
Copper 360 is an emerging giant in the copper mining industry. With operations based in the Northern Cape, the company is focused on developing one of the largest and most promising copper districts in the world.
The company was formed in November 2022 following a reverse takeover by copper miner Shirley Hayes of SHiP Copper. It will list on the JSE in early 2023..
Copper 360 is committed to responsible and sustainable mining practices. The company’s focus on environmental responsibility and social responsibility has allowed it to establish a strong reputation as a leader in the industry.
At Copper 360, the company values diversity, equality, and inclusion in all aspects of its operations. The company’s workforce is made up of individuals from a wide range of backgrounds, and the company is committed to creating an inclusive workplace where all employees can thrive.
As the mining and resources industry continues to evolve and change, Copper 360 is set to become one of the key players in the development of the South African play in the global copper market.