Copper 360 has signed a contract worth R874 million with leading African underground mining contractor Cementation Africa. This contract covers the development of underground workings and open stope mining methods at the Rietberg mine in the Northern Cape.
The contract is set for the next 15 months and is the result of extensive negotiations and technical due diligence. The revival of historical copper deposits in the Northern Cape has become feasible again due to global electrification and the adoption of modern mining technologies.
The agreement structure represents a strategic alliance based on an open-access cost plus commission model, supplemented by a performance-based incentive mechanism tied to achievements and losses. Gordon Thompson, Chief Operating Officer and Interim CEO of Copper 360, noted that they found not just a contractor, but a true expert partner whose reputation speaks for itself.
Mobilization work commenced on July 1, 2026, at the Rietberg mine, with production scheduled to begin on September 1, 2026. Copper 360's portfolio includes 12 historical mines and 60 prospective copper sites, containing approximately 377 million tonnes of copper mineralization and 2 million tonnes of contained copper.
Group directors emphasized that securing a contractor of Cementation Africa's caliber and conducting an independent technical review validates Copper 360's potential and its multi-mine strategy. The company plans to utilize an outsourcing model to mitigate risks and unlock future assets.
Rietberg will be the first mine to be brought online under the multi-mine model, creating a scalable platform applicable across the company's entire portfolio. The contract was intentionally structured as a strategic partnership rather than a standard contractual agreement. The parties will collaborate under the open-access cost plus commission model, managed through a steering committee, joint project, and operational teams.
The profit and loss sharing mechanism ensures that both parties share the benefits of exceeding targets and the consequences of failing to meet them. The contract term includes two months of mobilization starting July 1, 2026, and 48 months of production from September 1, 2026, to August 30, 2030. Operations will be continuous, twenty-four hours a day, seven days a week.
Cementation Africa's responsibilities include the full cycle of underground mining at the Rietberg mine level 400, encompassing waste and ore development, open stope mining methods, drilling of slots and shafts, and loading into the 'slough-hall'. Extracted ore will be transported to the Rietberg site for subsequent processing at the central beneficiation complex in Nababeep.
Production will ramp up from an initial volume of about 12,000 tonnes of ore per month to a stable level of 35,000 tonnes per month, mining the Rietberg ore body which contains 'Proven and Probable Reserves' of approximately 2.48 million tonnes at a copper grade of 1.38%. Benefits for Copper 360 include Cementation Africa's proven capability to execute tasks, leadership in safety matters, specialized expertise in open stope mining, and mechanized development.
Japie du Plessis, CEO of Cementation Africa, expressed appreciation for Copper 360's vision, technical capabilities, and commitment to changing the approach to copper mining in South Africa.
The Deputy Minister of Mining and Geology of Uzbekistan, Rustam Yusupov, held a meeting with a delegation from the Chinese company CRCC Investment (China Railway Construction Investment Group Corporation Limited). The delegation was headed by CEO Xu Yuhe.
Representatives of CRCC Investment presented their company's activities, current international investment and infrastructure projects, and expressed a desire to deepen cooperation with Uzbekistan. The parties paid particular attention to the opportunities for the Chinese company to participate in the mining industry projects.
Rustam Yusupov informed the delegation about the reforms being carried out in the field of subsoil use in Uzbekistan, the existing mechanisms for attracting investments, and the opportunities for investors to participate in electronic auctions for the right to use promising subsoil areas.
At the end of the meeting, both sides confirmed their mutual interest in developing a partnership and agreed to continue the dialogue on promising areas of cooperation in the field of mining and geology.
Pretoria University (UP) has initiated a fundraising drive of R50 million. The goal of this campaign is to eliminate historical debt obligations that prevent hundreds of qualified graduates from receiving their diplomas.
This three-year initiative, called 'Degrees Delivered,' will run from 2026 to 2028. It aims to settle outstanding student debts for graduates who have successfully completed all academic requirements but cannot collect their certificates due to unpaid fees.
Without these documents, many graduates face difficulties in finding employment, registering with professional associations, or pursuing postgraduate studies, despite fully meeting all academic criteria.
Vice-Chancellor and Professor Francis Petersen stated that the campaign was created to address what he described as a painful but common problem among graduates. He emphasized that the program solves a simple yet very complex issue: graduates have finished their studies, passed exams, and earned a degree, but cannot obtain their certificate because of old debts.
The campaign is part of the university's Thrive UP 2038 strategy. This strategy aims to foster a 'people-oriented university' that prepares graduates for the future and contributes to significant social impact.
Unlike traditional levies aimed at funding new infrastructure or future projects, 'Degrees Delivered' provides immediate and measurable benefit by removing one of the final barriers to graduates entering the workforce. The program is available to graduates from all nine faculties of the university who are eligible for their first bachelor's degree.
UP announced that eligible beneficiaries will be identified and contacted directly. Funding will be distributed after an assessment that considers socio-economic status and other predefined criteria, prioritizing those experiencing the greatest financial need.
Petersen also announced a personal financial contribution to the initiative. He stated that he is making a personal pledge of financial support to both the 'Degrees Delivered' campaign and the Vice-Chancellor and Professor Scholarship Fund. He called on business partners, alumni, staff, and the general public to join this effort, asserting that collective action changes lives and futures, not just funds education.
To expand support, the university introduced a payroll deduction system, allowing staff to make monthly donations to the fund. The campaign has already begun attracting support: in June, the Comrades Marathon fundraising initiative raised over R106,000 from more than 225 donors.
The next event is scheduled for July 23rd, when UP will host a wine tasting and gourmet dinner evening for graduates in partnership with Zoetendal Vineyards. Proceeds from ticket sales and a live auction will go to the 'Degrees Delivered' fund. Petersen concluded that financial hardship should not be the last obstacle between graduates and the opportunities they have achieved. The university urges graduates, businesses, organizations, and the public to contribute through official UP donation channels.
