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COPPER 360 LIMITED - Copper 360 completes first on-ore blast, commencing hard rock mining at the Rietberg Mine

Release Date: 05/02/2025 10:00
Code(s): CPR     PDF:  
Wrap Text
Copper 360 completes first on-ore blast, commencing hard rock mining at the Rietberg Mine

Copper 360 Limited
(Incorporated in the Republic of South Africa)
Registration number 2021/609755/06
JSE share code: CPR ISIN: ZAE000318531
("Copper 360" or the "Company")

COPPER 360 COMPLETES FIRST ON-ORE BLAST, COMMENCING HARD ROCK MINING AT THE RIETBERG MINE

Copper 360 is pleased to announce a major operational milestone with the successful execution of the first on-ore blast at
Rietberg Mine on Friday, 31 January 2025. This marks the first such blast in 42 years, signalling the start of Copper 360's
transition from less predictable mine development towards structured hard rock mining.

Since the re-opening of Rietberg Mine in August 2024, the development and commissioning stage required Copper 360 to
work through the highly oxidised, unpredictable and lower grade broken rock before being able to target the more structured
hard rock resource, containing higher in-situ copper grades which aligns to our historic drill results and mine plans.

Development at Rietberg Mine will continue over the next 9 months, ramping up to full production of c. 40 000 tpm expected
by the end of the 2025 calendar year. This milestone marks another step in Copper 360's aspirations to become a meaningful
global copper producer by efficiently exploiting its own vast copper resources in the region.

THE IMPLICATIONS OF ON-ORE MINING
     •  Phasing out of Broken Rock Processing: The Company is transitioning away from historically unpredictable broken
        and transitional rock, which presented challenges in estimating grade, volumes and recoveries;
     •  Consistent Grade and Mineralogy: On-reef mining allows for the extraction of material with known grade and
        mineralogical characteristics, significantly improving predictability and operational planning;
     •  Infrastructure and Equipment Readiness: The required underground infrastructure and equipment have been
        strategically planned, procured and implemented to support long-term hard rock mining;
     •  Operational Milestone: The first on-ore blast marks a fundamental step in Copper 360's evolution, ensuring more
        predictable production and financial performance.

Shirley Hayes, CEO of Copper 360, commented:
"This marks a pivotal moment for Copper 360 as we shift from an unpredictable phase of broken rock processing to a
structured, sustainable hard rock mining operation. This transition will provide us with the consistency and reliability needed
to achieve our production and financial targets. The successful execution of the first on-ore blast at Rietberg Mine is a
testament to the hard work and commitment of our team. We are confident that this strategy will drive long-term value for
our shareholders and position Copper 360 for sustainable success."

Stellenbosch
5 February 2025
Designated Advisor: Bridge Capital Advisors Proprietary Limited

Date: 05-02-2025 10:00:00
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