en.Wedoany.com Reported - Underground development at Copper 360's Rietberg mine in South Africa's Northern Cape Province has surpassed half of the original 544-meter target.
Development is progressing as planned, thanks to the mining alliance formed by the company with Cementation Africa, which began mobilization on July 1.
At the current pace, development work is expected to intersect the orebody at the 300 level within 90 days. This will provide access to the defined ore block, supplying mill feed for Rietberg mining operations, marking the transition from waste rock development to ore development and in-situ production construction.
Interim CEO Gordon Thompson stated that completing half the progress on schedule, with the orebody intersection target set for September, reflects the current momentum at Rietberg. It is expected that within weeks of intersecting the orebody, Modular Floatation Plant 2 (MFP2) can be brought to full capacity, integrating mining and processing strategies. The extension of the decline to the 350 level means this is just the beginning of Rietberg's production story.
Construction for full production will commence during the ore development phase, with ore generated during development directly used as plant feed. Short-term run-of-mine production is expected to increase to approximately 700 tons per day, sufficient to fill MFP2's processing capacity. The plant has recently been converted to parallel grinding.
Copper 360 stated that matching mine production construction with MFP2's upgraded capacity is a key milestone in the company's strategy. The first stable, structured hard rock ore supply from Rietberg will fully utilize the company's installed processing capacity, supporting improved feed grades, recovery rates, and copper production.
While conducting production construction at the 300 level, the company plans to extend the decline to the 350 level.
This decline will open additional mining faces, increase available face length, provide operational flexibility to sustain and expand production beyond initial construction, and support the mine's long-term production profile.
On the Johannesburg Stock Exchange (JSE), the company's share price rose over 10% following the July 21 announcement, reaching a high of 43 cents, compared to the previous day's closing price of 39 cents.
