Company aims to ramp up production at Rietberg underground mine
Emerging producer Copper 360 says establishing the Rietberg underground operations in the Northern Cape is among its top priorities in 2025. CEO Shirley Hayes said Rietberg had its first hard-rock blast on ore in January — the first in 42 years at that site, which pointed to progress. We’ve turned a corner with Rietberg’s commissioning, and my priority is to ramp up production efficiently,” she said.
Copper 360 expects to hit its “steady state” production target at 40,000 tons a month this year and to double production in the next two. Its mining rights cover 19,000ha north of Springbok, and it holds 12 copper mines, some with developed infrastructure. It began production in 2023 by processing historical waste from old mines such as O’Okiep, using its solvent extraction-electrowinning plant to produce copper cathode.
“That was our foundation, generating a few million in revenue. This recycling approach allowed us to generate early cash flow while preparing for the next phase,” Hayes said, in reference to the Rietberg underground mine. However, the company’s financial performance has been disappointing, posting operational losses and delivering lower-than-expected production. Hayes said as part of its target, Copper 360 expects to break even and deliver capital appreciation for its shareholders in 2025. “Cost control is key. We’re optimising resources and streamlining processes to boost margins. I’m also pushing our cluster mining model, bringing more of our 12 nearby prospects — like Jubilee and Homeep-East — online to diversify output and reduce risk.”
Hayes became the group’s chair in May 2024 and took over as CEO in December. She ventured into the business after she was retrenched from a granite quarry. “When retrenchments hit, I didn’t sit still — I bought a second-hand bakkie and an old John Deere loader and began recovering feldspar from old mine dumps. That grit paid off, eventually funding small feldspar mines and building a team, some of whom are still with me today at SHiP, the company I founded in 2008.”
Her focus shifted to copper when she saw the untapped potential in the Northern Cape, a region she sees as a sleeping giant of mineral potential. “After years of exploration and consolidation, I merged SHiP’s assets into Copper 360.”
She is bullish about copper’s outlook despite the US administration’s emphasis on oil and traditional energy, which could create short-term headwinds for the green energy market. “A pivot to fossil fuels might slow US investment in renewables, potentially softening demand for copper in solar, wind, and EVs stateside. However, copper isn’t just a green metal — it’s essential for infrastructure, construction, and electrification, which Trump’s policies could boost through domestic spending. Globally, the energy transition is unstoppable; China, Europe, and India are doubling down on renewables, and copper supply can’t keep up,” she said. Even if US demand dips in 2025, global deficits — projected at 500,000t annually by 2030 — will keep prices firm.
“For Copper 360, this duality is an advantage: we’re not solely reliant on green tech. Our copper supports all sectors, and our low-cost production ensures we thrive regardless of policy shifts. Trump’s focus might delay some green projects, but it won’t derail the copper super cycle we’re riding into.”
Article published with permission from the Sunday Times
Author: Dineo Faku
The article was published in Sunday Times on 6 April 2025
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