MMG to Invest $700 to Boost Production at Khoemacau Copper Mine in Botswana

Further to its acquisition of the Khoemacau copper mine in Botswana, Minerals and Metals Group (MMG) plans to invest another USD 700 million to boost the production capacity.

It is to be recalled that MMG is a subsidiary of China Minmetals Corporation and completed the ownership transfer of the Khoemacau mine from Canadian firm Cuprous Capital to the tune of USD 2 billion.

The mine is situated in the #KalahariCopperbelt extending from western Namibia into northeastern Botswana and is 2nd in fame to the Zambia-DR Congo #Copperbelt. The Kalahari copperbelt is rich in copper-silver ores.

Thanks to the capital injection, the annual output of the mine will more than double from 60,000 tonnes too 130,000 tonnes. At the same time, the mine silver production will increase from 1.6 million ounces to 5 million ounces. The lifetime of the mine is estimated at 20 years.

“Our new owners are committed to the expansion project, with the first concentrate expected from the last quarter of 2027.

Khoemacau MD Johan Ferreira

A surge in the demand of copper has been created as countries push for the #EnergyTransition. As a result, the demand for copper is forecasted to rise by 70% by 2050, reaching some 50 millions tonnes per year globally. Capitalizing upon the opportunity, China Minmetals has also acquired the Kinsevere mine in DR Congo and Las Bambas mine in Peru.