Emerging copper company Copper 360 will deploy a cluster mining model at its Northern Cape operation, updating predecessor Okiep Copper Company’s high-yielding model.
Copper 360 holds more than 19 000 ha with 12 orebodies, including Rietberg, Jubilee, Homeep, Klondike, Wheal Julia North, Whyte's West, Koeëlkop, Hoogkraal and Waaihoek.
A cluster strategy will enable the company to mine at various locations with a centralised processing facility in Nababeep, it points out.
Chairperson Shirley Hayes designed the twenty-first-century modelling for cluster mining in the area.
“Cost savings and resource operation optimisation will increase efficiency tremendously and reduce production cost while mitigating risk at its opposite,” she says.
Previously, the Okiep Copper Company made history on the NYSE in the 1960s when it paid the highest dividend in history, at that time. Hayes says it was as a direct outcome of the efficiencies that cluster mining affords.
“The cluster mining model offers investors the potential for improved profitability and long-term success. Reducing capital and operating costs, increasing efficiency, and diversifying risks, holds the potential for increased production and exploration of new revenue streams,” she highlights.
Hayes says potential gains in the long-term success of the model include a sustainable and cost-efficient approach to mining, adding that cluster mining presents a compelling opportunity for investors looking to capitalise on the long-term growth potential of Copper 360.
A recent drilling campaign confirmed historic data at two initial sites. Results confirmed the validity of the information in every aspect from geological rock type, type and quantity of mineralisation, and intersection widths and depths.
Copper intersections of over 45 m each were made just 30 m below surface. The company will continue with its drilling campaign.
Cluster mining also offers environmental benefits.
“It reduces the environmental footprint of mining activities, simplifying the reclamation process, conserving water resources, and diversifying environmental risks associated with mining activities. These benefits can help to minimise the impact of mining on the environment,” Hayes acclaims.
Copper 360’s plant in Nababeep already produces copper by recycling historical dumps using technology that minimises any environmental impact, while simultaneously restoring the area to its natural habitat.
Hayes says the cluster mining strategy affords the company’s mining activities a similar opportunity to take better care of the environment.
Copper 360 plans to list on the AltX board of the JSE.