Another exec bites the dust at prominent South African mining company

Copper 360 today announced that its chief financial officer (CFO), Ferdinand Nel, has resigned, making him the third exec to leave the company since the start of the year.

Copper 360 is a JSE-listed mining company with the stated goal of reviving one of South Africa’s oldest mining regions in the Northern Cape.

The company holds rights to mine on over 19,000 hectares that contain 12 historical mines and more than 60 exploration targets.

However, to date, the company has yet to report a profit, posting an operating loss of R213.3 million in its latest financial year.

Over the past six months, it has also experienced an executive exodus, with four board members having left the company since February 2026.

On 16 February, Copper 360 informed shareholders that its CEO, Graham Briggs, and commercial executive, Stephen du Plessis, would be taking a leave of absence with immediate effect.

At the time, the company put this down to part of an ongoing reorganisation following its recent recapitalisation.

Exactly a month later, Copper 360 announced that its company secretary, law firm Phillip Venter Attorneys, would resign with effect from 16 March 2026.

This resignation, the company said, was due to “strategic realignment of the firm’s service offerings”.

Now, on Thursday, 11 June, Copper 360 announced that Nel had resigned as an executive director and CFO with effect from 8 June.

Copper 360 did not provide a reason for Nel’s decision, only saying that its board has accepted his resignation. “The board wishes him well in his future endeavours,” it said.

“Appropriate interim financial management arrangements have been implemented to ensure continuity of financial oversight, reporting and governance while a permanent CFO is appointed.”

Nel had been with Copper 360 for just over three years, having joined in June 2023 as a group financial manager.

In April 2024, he became the miner’s deputy CFO, and by October 2024, he was appointed CFO. Nel succeeded Du Plessis, who had held the CFO role since March 2021. 

When he was appointed as CFO, the miner told shareholders that Nel has added “significant value in the finance and procurement functions, whilst working together with the CFO and CEO”.

“As CFO, he will have executive responsibility for financial reporting and management of budgeting, cash flow, taxation, procurement and inventory.”

Prior to joining Copper 360, Nel had served at various companies, including Cape Town Fish Market and Astral Foods’ County Fair.