Underground development at JSE-listed Copper 360's Rietberg mine, in the Northern Cape, has advanced beyond the halfway mark of the original 544 m development target.

Development rates have continued in line with the mine plan, supported by the company's mining alliance with Cementation Africa, which started mobilisation on July 1, Copper 360 reports.

It adds that, based on the 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.

"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 Modular Flotation Plant 2 (MFP2) 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," comments Copper 360 transitional CEO Gordon Thompson.

The build-up to full production will start during the on-ore development phase, with ore generated from development immediately contributing to plant feed. Run-of-mine production is expected to build up to about 700 t/d in the near term, which is sufficient to fill the processing capacity of the company's MFP2 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 use the company's installed processing capacity, supporting improved feed grades, recoveries and copper production, Copper 360 says.

Concurrently with the production build-up on 300 Level, the company plans to develop a haulage decline down to 350 Level.

It notes that 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.

The company's share price on the JSE rose by more than 10% on the announcement on July 21, reaching a high of 43c, compared with the previous day's close of 39c.