Wrap Text
Rietberg Mine development passes halfway mark
COPPER 360 LIMITED
Incorporated in the Republic of South Africa
(Registration number 2021/609755/06)
Share code: CPR
ISIN: ZAE000318531
("Copper 360" or "the Company")
RIETBERG MINE DEVELOPMENT PASSES HALFWAY MARK
Shareholders are advised that Copper 360 Ltd ("Copper 360" or the "Company") has achieved a significant development
milestone at its flagship Rietberg Mine, with underground development now advancing beyond the halfway mark towards
the 300 Level orebody. Based on current development rates, the Company expects to intersect ore within the next 90 days,
marking the transition from waste development to on-ore development and the commencement of the planned production
build-up.
SALIENT FEATURES
• Underground development at the Rietberg Mine has advanced beyond the halfway mark of the original 544-metre
development to 300 Level.
• The development is expected to intersect ore on 300 Level within 90-days, providing access to the defined ore block
expected to supply mill feed for approximately three years of mining at Rietberg.
• The build-up to full production will commence during the on-ore development phase, with run-of-mine ("RoM")
production expected to reach approximately 700 tonnes per day once ramped up– sufficient to fill the capacity of the
Company's MFP2 processing plant.
• Concurrently, a haulage decline will be developed down to 350 Level, which will further increase the available mining
face length and support the longer-term production profile.
DEVELOPMENT PROGRESS
Further to the Company's previous update on development progress at the Rietberg Mine, shareholders are advised that
underground development toward 300 Level has now advanced beyond the halfway mark of the original 544-metre
development. Development rates have continued in line with the mine plan, supported by the Company's mining alliance
with Cementation Africa, which commenced mobilisation on 1 July 2026.
Based on current advance rates, the development is expected to intersect ore on 300 Level within 90-days. This intersection
will provide access to the defined block of ore which is expected to supply mill feed for mining operations at Rietberg and
marks the transition of the operation from waste development into on-ore development and in-situ production build-up.
PRODUCTION BUILD-UP
The build-up to full production will commence during the on-ore development phase, with ore generated from development
immediately contributing to plant feed. RoM production is expected to build up to approximately 700 tonnes per day in the
near term, which is sufficient to fill the processing capacity of the Company's MFP2 modular flotation plant following its
recent conversion to parallel milling.
The alignment of the mine's production build-up with the upgraded capacity of MFP2 is a key milestone in the Company's
strategy: for the first time, a consistent, structured hard-rock ore supply from Rietberg will fully utilise the Company's
installed processing capacity, supporting improved feed grades, recoveries and copper production.
HAULAGE DECLINE TO 350 LEVEL
Concurrently with the production build-up on 300 Level, the Company will develop a haulage decline down to 350 Level. This
decline will open up additional mining headings and further increase the available face length, providing the operational
flexibility to sustain and grow production beyond the initial build-up and underpinning the longer-term production profile of
the mine.
OUTLOOK
The Company will update the market on the intersection of ore on 300 Level, the progress of the production build-up, and
the advancement of the haulage decline to 350 Level in due course.
Commenting on the progress, Gordon Thompson, Transitional Chief Executive Officer of Copper 360, said: "Passing the
halfway mark on schedule, with ore intersection targeted for September, demonstrates the momentum now established at
Rietberg. Within weeks of intersecting the orebody, we expect to be feeding our MFP2 plant to capacity — the point at which
our mining and processing strategy comes together. The decline to the 350 Level means this is only the beginning of the
production story at Rietberg."
FORWARD-LOOKING STATEMENTS
This announcement contains forward-looking statements, including statements regarding development timelines, the
expected date of ore intersection, production build-up rates and future production. Such statements are based on the
Company's current mine plan and involve known and unknown risks and uncertainties, including geological, technical and
operational factors, and actual results may differ materially from those expressed or implied. Estimates of ore availability
are based on Mineral Resource estimates prepared in accordance with the SAMREC Code. The Company undertakes no
obligation to update these statements except as required by applicable law and the JSE Listings Requirements.
Stellenbosch
21 July 2026
Designated Advisor: Bridge Capital Advisors Proprietary Limited
Date: 21-07-2026 12:50:00
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