African Copper warns of possible closure

The prevailing low copper prices could force closure of Mowana mine
The prevailing low copper prices could force closure of Mowana mine

Cash-strapped African Copper says it might not be able to continue operating if international copper prices, which are at their lowest since 2008, do not rebound.

The copper producer, which employs about 200 workers at its Thakadu and Mowana open pit mines in the northeast district, desperately needs additional money to fund operations.

The warning by African Copper comes shortly after Discovery Metals announced that it would shut its Boseto Mine near Maun in June this year, laying off about 400 workers in the process.

Editor's Comment
Kudos to Kario

A few weeks after the former ruling Botswana Democratic Party (BDP) was reduced to a pale shadow of itself in the just passed General Election on October 30, it was only logical that you take a conscious decision of resigning from the party. This was before you could be pushed out of the position by irate party diehards who feel you did not do enough during your tenure as the head of the party secretariat.We know that it is at the party...

Have a Story? Send Us a tip
arrow up