Copper360 said yesterday that underground mining operations have commenced at its Rietberg mine in the Northern Cape.
In June, Copper360 CEO Jan Nelson said current operations were already generating positive cash flow, building up to almost R40 million (and) in the next two months to R40m to R50m of revenue inflows. The commencement of underground mining operations at the Rietberg mine was being seen as a major boost to the companys production profile.
Production has started with a target for the first month of 12 000 tons per month is being targeted at copper grades of 1.6% Cu in situ that will increase over four months to 45 000 tons per month as the second concentrator plant the company is constructing is commissioned in the next two months, said Copper 360.
Nelson, described the kick-starting of mining activities at Rietberg as an exciting moment for the company. He said this was a culmination of several years of planning, and signalled the beginnings of a new era for the Northern Cape.
This achievement is a credit to our executive and management and the grit and determination of the Namaqualand people that come from the communities in the area who form part of our Copper 360 team, he said.
