Ahead of its upcoming AltX listing on the JSE on April 21, JSE-listed copper miner Copper 360 raised R152.5-million by April 18 at an oversubscription rate of 1.3 times.
Copper 360 has a dozen mines in the Northern Cape, which it plans to mine using a cluster method, that collectively offers the equivalent of a 100-year life-of-mine.
A cluster mining model involves several mines feeding into one process facility – a method ideal for the Northern Cape copper district.
An application has been made to the JSE for the listing of 629.7-million Copper 360 ordinary shares in the industrial metals and mining sector in the copper subsector on the AltX of the JSE from April 21.