South African miner that has never made a profit has a new CEO and CFO

Following a slew of executive resignations throughout 2026, Copper 360 has appointed a new CEO and CFO to its board.

With effect from 24 September 2026, mining veteran Gordon Thompson will lead Copper 360 as its chief executive officer.

Thompson boasts 25 years of experience in mine development, construction, commissioning, and operations across Africa.

He joined Copper 360 as its Chief Operating Officer (COO) in June 2023, a role he has held until now.

Copper 360 announced Thompson’s transition to CEO on Friday, 25 September, after market close.

The company also announced that its current executive director and Chief Risk Officer (CRO), Seten Naidoo, will take over as CFO with effect from 24 September 2026.

The miner said Naidoo has 17 years of experience in financial markets within the mining sector, spanning asset management and corporate strategy. 

Naidoo joined Copper 360 in 2025 as CRO and recently also served as the company’s Transitional Commercial Director. He has been the company’s Interim CFO since June 2026.

“The board confirms that fit and proper assessments have been undertaken in respect of each of Mr Thompson and Mr Naidoo and that the board is satisfied with the outcome thereof,” it said.

Thompson and Naidoo’s appointments follow a slew of executive resignations at Copper 360 over the past few months.

It started in February 2026, when the company’s CEO, Graham Briggs, and commercial executive, Stephen du Plessis, announced they would be taking a leave of absence with immediate effect.

Thompson began serving as transitional CEO following Briggs’ resignation.

A month later, Copper 360’s company secretary, law firm Phillip Venter Attorneys, announced its resignation with effect from 16 March 2026.

On 11 June, Copper 360 announced that its CFO, Ferdinand Nel, had also resigned with effect from 8 June.

Amid this executive exodus, Copper 360 announced in August 2026 that Sibanye-Stillwater’s founding CEO, Neal Froneman, was appointed as the company’s chairman.

Froneman is a highly respected mining veteran, having worked at many top companies, including Sibanye, Gold Fields, Harmony Gold, and JCI.

With Froneman leading the board and Thompson now taking the helm as permanent CEO, Copper 360 should now have greater stability at the top.

This stability will be important for the company that has yet to report a profit since its founding in November 2022.

As of its 2026 financial year, Copper 360 has posted operating losses totalling nearly R800 million since the 2023 financial year.

Currently, it costs Copper 360 more to produce copper than it can sell it for, resulting in these significant operating losses.