Africa-Press – Botswana. Khoemacau Copper mine’s suitor MMG Limited is bullish about the expansion plans of the mine once financial closure is concluded.
The Chinese outfit said it will take the entire shareholding Khoemacau for P 25.6 billion and is awaiting for all regulatory approval in different jurisdictions – including the Botswana Competition Authority and the Hong Kong Stock Exchange.
MMG is a global resources company with operations in Australia, Canada, Democratic Republic of Congo and Peru.
“We want to expand production of Khoemacau from 60,000 tonnes to 130,000 tonnes per annum,” executive general manager for Australia and Africa, Nan Wang said at a press conference in Gaborone on Wednesday.
He said Khoemacau has got a concession area of area of 440 km2 “and we would like to do more exploration programme”.
The first phase of the project which has been in production for the last two years costs the company nearly US$ 1 billion. And the second part which is at pre-feasibility level is expected to cost US $ 700,000. It is expected to take between 12 to 18 months to do everything in order to more than double the production at the mine.
MMG is emboldened by global demand for copper which will be used in the manufacturing of Electronic Vehicles and the wiring systems that are expected to pace up in the coming years.
MMG was among the six companies that were bidding for Khoemacau mine.
It is among three from China and the other three were from South Africa.
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