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SA green copper play to list in first half of 2022
Big Tree CEO, Jan Nelson joins CNBC Africa for discuss the company’s listing plans and the case for green copper in advancing renewable energy.
Tue, 25 Jan 2022 10:45:03 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Big Tree's green copper production aims to recycle old mine dumps and tailings dams while producing copper and rehabilitating the environment.
- The company plans to list on the stock exchange through an IPO before June 2022 to raise capital for expansion.
- Big Tree's unique approach as the first copper cathode production plant in South Africa underscores its leadership in sustainable mining practices.
South Africa-based Big Tree CEO, Jan Nelson, recently sat down with CNBC Africa to discuss the company's pioneering green copper production and its plans to list on the stock exchange in the first half of 2022. Nelson highlighted the company's innovative approach to recycling old mine rock dumps and tailings dams in the Northern Cape to produce copper while simultaneously rehabilitating the environment.
Drawing parallels to DRD Gold's gold dump projects, Nelson emphasized that Big Tree's current copper production stands at 1,500 tons per annum, with plans to ramp it up to 8,000 tons over the next three years. Despite being smaller in scale compared to DRD Gold, Nelson expressed confidence in the project's sustainability, citing favorable copper prices.
When asked about potential expansion outside of South Africa, Nelson affirmed the company's commitment to staying within the country, citing superior infrastructure, skilled workforce, and supportive policies as key reasons for the decision. While acknowledging the abundant copper deposits in the Democratic Republic of the Congo and Zambia, Nelson highlighted the challenges posed by power shortages, political instability, and corruption in those regions.
In terms of operational scale and impact, Nelson revealed that Big Tree has invested over 100 million South African rand in building the plant, with plans to invest additional capital in the coming years. The company has already created jobs for over a hundred people, with projections to employ another 200 to 300 individuals in the next two years. Moreover, Big Tree's copper production plant is the first of its kind in Africa, focusing solely on cathode copper production and environmental remediation.
Addressing the technology behind the operation, Nelson noted that while most of the technology is tried and tested, Big Tree has introduced its own innovations to neutralize byproducts and enhance environmental sustainability. Nelson expressed pride in the company's unique positioning as the first and only copper cathode production plant in South Africa.
Looking ahead, Nelson confirmed Big Tree's plans to list on the stock exchange through an initial public offering (IPO) before June 2022. While acknowledging that the company does not necessarily require additional capital, Nelson highlighted the intent to raise funds to expedite growth and expansion initiatives.
In conclusion, Big Tree's innovative approach to green copper production, coupled with its commitment to environmental stewardship and community development, positions the company as a trailblazer in the realm of sustainable mining practices in South Africa.
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