JSE-listed Copper 360 has advised shareholders that, as part of an ongoing reorganisation post recapitalisation of the business, CEO Graham Briggs and commercial executive Stephan du Plessis have taken a leave of absence with immediate effect.
Copper 360 says the board of directors has implemented appropriate interim management arrangements to ensure continuity of operations, effective oversight and the continued execution of the company’s strategy.
The board has appointed COO Gordon Thompson as transitional CEO and Seten Naidoo as transitional commercial executive with immediate effect.
Copper 360 notes that Thompson is a professional certificated engineer and seasoned mining executive with over 25 years’ experience in mine development, construction, commissioning and operations across Africa.
The company says he has successfully built and commissioned multiple mines and processing plants and has held senior executive and board roles in JSE-, ASX- and LSE-listed companies.
Thompson joined the company in June 2023 and brings deep operational, governance and capital markets experience to the role of transitional CEO, says Copper 360.
Meanwhile, the company notes that Naidoo has 17 years of experience in the resources sector across strategy, asset management, equity research and stakeholder engagement.
He has worked closely with executive and operational teams to drive commercial performance and continuity across the business.
Copper 360 says Naidoo is currently the chief risk officer of the company and brings deep experience in commercial strategy, capital markets and operational support to the role of transitional commercial executive.
The company assures shareholders that its operations continue as normal; that there has been no disruption to day-to-day mining, processing or commercial activities; and that the company remains focused on operational delivery, financial discipline and value creation for shareholders.
“The board will continue to assess the company’s organisational structure and executive capacity as part of the broader reorganisation process and will keep shareholders informed of any further material changes,” says Copper 360.