MMG Ltd, a Chinese mining enterprise, is to plough some $700 million into copper production in Botswana’s Khoemacau mine.
This has been occasioned by heightened demand for copper for green energy projects. The goal is to increase output from 60 000 to 130 000 metric tonnes. Silver production was intended to expand from 1.6 million ounces a year to some 5 million.
Employment would increase from 1 700 to 2 800.
The managing director of Khoemacau, Johan Ferreira, said: ‘Our new owners are committed to the expansion project… with first concentrate expected from the last quarter of 2027.’
Meanwhile, Botswana has confirmed that it is holding discussions with Anglo American over increasing its holding in De Beers; Anglo American is looking to end its holdings in De Beers.