Africa-Press – Botswana. The acquisition of Khoemacau Copper Mining by MMG Mining Company does not only mark a significant milestone in the country’s mining industry, it also signifies a promising partnership for the future, says minister of Mineral Resources and Energy, Mr Lefoko Moagi.
Minister Moagi was speaking at a ceremony to celebrate the new ownership of the mine at Boseto camp in Toteng on Friday.
MMG is a global resource company that mines, explore and develop copper and other base metal projects in four continents.
Mr Moagi said the acquisition also marked the culmination of a journey that began with Khoemacau Copper Mine, a project that had epitomised resilience, innovation, and dedication.
“As we welcome MMG Mining to Botswana, I extend a warm embrace to our new partners and their acquisition of Khoemacau Copper Mining represents not only a strategic business move but also a commitment to the future prosperity of Botswana. With their extensive experience and resources, I am confident that MMG will contribute significantly to the continued growth and success of the mining sector in our country,” he added.
The minister also appreciated that the acquisition of Khoemacau by the new ownership heralded a new chapter in Botswana’s mining storyline citing that with MMG’s global expertise and resources, coupled with Botswana’s conducive investment climate they were poised to unlock new opportunities and realise full potential of the natural resources.
He said MMG’s commitment to doubling production, generating employment, and increasing royalties and tax contributions reaffirmed their alignment with government’s priorities of job creation and economic growth.
Furthermore, he said the acquisition emphasised minerals’ policy objective of attracting foreign direct investment and fostering a conducive business environment in the minerals sector.
This, he said was testament to Botswana’s attractiveness as an investment destination.
The minister assured the MMG Mining leadership that government remained dedicated to supporting and facilitating initiatives that promoted sustainable development and economic growth.
“Our ministry, alongside its various departments and divisions, stands ready to collaborate with MMG Mining and other stakeholders to ensure the success of this venture.
We are committed to providing necessary infrastructure, regulatory support, and conducive business environment to enable the mining industry to thrive,” he added.
Mr Moagi further assured them that government was committed to deliver on priorities that focused on challenges Botswana faced, as well as creating opportunity and prosperity for all.
The future of copper mining in Botswana, he said held a great promise citing that with global demand projected to exceed supply, there was an abundance of opportunities for growth and expansion in the sector.
Mr Moagi said MMG’s investment in Khoemacau, aligned perfectly with the minerals policy objectives of job creation, economic diversification, and sustainable growth.
He also appreciated Cuprous Capital, the parent company of Khoemacau for their invaluable contributions to the growth and development of the mine.
He said their unwavering support and investment had been instrumental in shaping the mine into successful venture it was today.
Furthermore, he applauded the mine’s proactive engagement with local communities, fostering meaningful partnerships that paved way for inclusive development and shared prosperity.
Khoemacau chief executive officer, Mr Johan Ferreira said with the new acquisition, they would join forces to build a legacy and thanked government for its valuable support for the success of the mine.
“We have proved that we can do mining in a safe and sustainable manner hence we managed to attract investors and contributed immensely towards community upliftment. Our new ownership will also endorse responsible mining and contribute to community development,” he added.
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