Copper 360 Reaches Key Milestone in $50M South African Mine Development, Shares Rise 10%

According to foreign media reports, JSE-listed copper producer Copper 360 has reached a major milestone in its $50 million underground development program at the Rietberg mine in South Africa's Northern Cape. Underground excavation has successfully passed the halfway mark of its 544-meter development target, setting the company on track to intersect its primary ore body on the 300 Level within the next 90 days.

This progress marks a strategic shift for the mine as it transitions from capital-intensive waste development into revenue-generating hard-rock mining. Reaching the ore block will provide an immediate feed of copper-bearing material directly to the upgraded Modular Flotation Plant 2 (MFP2). The alignment between underground production and processing capacity is expected to ramp run-of-mine output up to approximately 700 tonnes per day, fully utilizing the plant's installed capacity and delivering higher feed grades alongside improved recoveries.

To secure long-term operational flexibility, the company plans to concurrently extend the underground haulage decline down to the 350 Level. This move will open additional mining areas and support a sustained long-term production profile beyond the initial ramp-up phase. Investors responded enthusiastically to the development, driving Copper 360’s shares up by more than 10% on the Johannesburg Stock Exchange following the operational update. The project reinforces the company's efforts to establish a fully integrated copper production footprint in the region.