OVERVIEW Mining Copper
OVERVIEW Mining Copper and zinc are fuelling increased investment. SECTOR INSIGHT Orion Minerals has secured an -million funding package. The town of Nababeep is the site of renewed interest in copper. Credit: Big Tree Copper Copper is one of the most important elements needed to power the renewable energy transformation and so it’s no surprise that areas mined historically for that mineral are now back in the news. Batteries need copper, as do systems used to transmit energy from solar or wind sources. Electric vehicles contain an average of 85kg and, according to the CEO of newly-formed Copper 360, Jan Nelson, the world had a stock of copper equal to only three weeks supply at a certain point in February 2023 (Financial Mail, 23 February). Copper 360 was formed in November 2022 following a reverse takeover of copper producer Big Tree Copper (a producer of copper) and SHiP Copper (a mining company). The company was due to list on the AltX of the JSE at the end of February but at the time of writing, it had not yet listed. Copper 360 produces 1 200t/y of A-grade copper cathode and has set a target of achieving 7 700t/y inside two years. Three new copper flotation plants are being built at a cost of R280-million. With 280 new employees over the last two years and plans to recruit a further 1 000 staff members in the next two years, global copper demand is clearly also good news for the town of Nababeep. Founded in 1860 by the Okiep Mining Company, Nababeep is in the Namakwa District Municipality just north of Springbok. An old zinc mine at Prieska that produced a million tons of zinc and 430 000 tons of copper before it closed in 1991 is being revived by Australian miner Orion Minerals. Orion Minerals has secured a funding package of -million from subsidiaries of Triple Flag Precious Metals. The funding is conditional on the rest of the plan for the mine’s development also receiving funding and on the approval of South Africa’s regulatory authorities. Another funder of the early development of the mine is the Industrial Development Corporation (IDC), one of the country’s largest institutional investors. The IDC has identified key opportunities for the national economy on the path to zinc industrialisation: • fertiliser phospates: sulphuric acid as a byproduct can enable the establishment of a sulphuric acid plant in the Northern Cape in support of agriculture in the lower Orange River NORTHERN CAPE BUSINESS 2023/24 30
Our History We are located at the Kimberley Diamond Jewellery Centre in the Northern Cape Province of South Africa. We have entrenched ourselves as the only incubator in the Precious Stones exchange, shared infrastructure and technology support services to the unemployed, Our Clients have work experience or informal sector businesses. Our Purpose Our Vision Our Mission Our Values To be the premium incubator in the diamond and precious metal • Provide an enabling environment that gives access to technology and business development; • Assist entrepreneurs • Integrity; • Innova • Transparency; • Reliability; • Customer centric. and sustainable. Our Partners
