Not just small change in Copper 360’s turnaround
A new supercycle is expected for the metal
Its hard to fault Jan Nelson for optimism. Copper 360’s CEO says he aims to declare a maiden dividend in February. That would represent a major turnaround for the company, which this month reported a R129m operating loss for 2023 — well adrift of the R245m profit it forecast in its prelisting statement.
Nelson brushes off last year’s disappointment by arguing that Copper 360 is still a work in progress. It lost more than half its metal production to load-shedding, while its only processing plant failed to achieve targets. Copper 360 responded by buying a processing plant from a neighbouring miner in the Northern Cape for R200m. It also spent R26m building generators for any future electricity disruptions...
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