The Copper 360 listing boosts JSE’s market capitalization and expands investment opportunities.
Copper 360 Limited, a copper mining company in South Africa, has successfully listed on the Alternative Exchange (AltX Board) of the Johannesburg Stock Exchange (JSE). This landmark listing positions Copper 360 as a major player in the copper industry, contributing to South Africa’s economic growth and offering investors a prime opportunity to tap into the continent’s flourishing copper market.
Rising market capitalization
The JSE, the largest stock exchange in Africa, noted that the listing was a significant milestone for both Copper 360 and the JSE, elevating the number of listed companies to 303 and raising the overall market capitalization to R22.76 trillion.
Copper 360 – Producing premium copper
Copper 360, formed through the merger of copper producers Big Tree Copper and SHiP Copper in November 2022, has established itself as South Africa’s next major copper producer. The company is committed to producing premium copper with high cash margins while developing one of the most promising copper districts in the country.
With its mining operations located in the resource-rich Northern Cape, Copper 360 holds a Mining Right covering an expansive 19,000 hectares north of Springbok. Within this area, the company has access to 12 copper mines, some with existing infrastructure, and 60 copper prospects backed by advanced geological datasets. The projected Life-of-Mine across these operations extends over 100 years, ensuring a long-term and sustainable copper supply.
Exposing South Africans to pure copper
Jan Nelson, the Chief Executive of Copper 360, emphasized the significance of the listing, saying, “Coming to the market means we give South Africans exposure to the only pure copper exposure available to them with further major growth. It opens up a capital market for us and allows us a network to further develop strategic partnerships. It also raises our profile and South Africa.”
Under the leadership of Chair Shirley Hayes, Copper 360 will implement a cluster mining model where multiple mines will feed into a central process facility, creating a new “Copper Country.” This innovative approach enables the economic viability of smaller orebodies, offering substantial benefits for the copper mining sector in the region.
Sam Mokorosi, Head of Origination and Deals at the JSE, highlighted the importance of mining for South Africa’s economic growth, saying, “The mining sector is a vital driver of economic growth in South Africa. With mining revenues reaching over R1.18 trillion in 2022, it is imperative that the country continues to focus on investing in this sector. South Africa holds some of the world’s largest reserves of precious metals, refractory metals, base metals, and energy minerals. As such, we are pleased to welcome an emerging giant in the copper mining industry to the AltX Board.”
New opportunities
Listing on the JSE provides companies like Copper 360 access to deep and highly liquid capital markets, while providing investors with an opportunity to participate in Africa’s remarkable growth potential through a trusted entry point. The AltX market, specifically designed for good quality, small, and medium-sized high-growth companies, offers Copper 360 a clear growth path and access to capital, ultimately facilitating future expansion.
“We are proudly South African, bold, brave, and innovative. We have tenacity, endurance, and courage, but always remain humble. We never give up! We are building South Africa’s next copper giant. We are Copper 360 – Hello Copper and hello JSE!” said Nelson.
Copper 360 is one of 44 companies in the basic materials sector listed on both the Main Board and AltX Board of the JSE.
Top leaders in the African mining industry will gather in Paris in mid-July for MOTA 2023.