African Copper warns of possible closure

Thursday, February 05, 2015

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.

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African Copper warns of possible closure

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.