Copper 360 secures nearly R100m in additional funding
The money will fund the completion of the Nama Copper acquisition and bolster short-term working capital requirements to start export sales of concentrates
The shares of metals miner Copper 360 jumped as much as 33% on Monday after it announced it had successfully raised a further R99.7m as part of a plan to fund its expansion strategy and secure short-term working capital requirements.
In 2023, the Northern Cape-based company raised R274m (https://www.businesslive.co.za/bd/companies/mining/2023-12-21-copper-360-raises-r274m-as-it-aims-to-double-its-output/) through debt and equity to fund the R200m Nama Copper acquisition — which would allow it to double its copper concentrate production capacity and output for 2025 — as well as fund the expanded production plan for the Rietberg Mine, entering into new equity, debt and royalty agreements to fund the transaction...
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