Copper mines in the country exported P7 billion worth of the base metal in 2023, up from P4 billion in 2022.
Recent Bank of Botswana figures show the extent to which both rising copper prices on the global market and improving local production, have helped the local economy.
According to trend analysis of the BoB numbers read together with Statistics Botswana figures, prior to the past three years, copper exports hit a peak in 2013 at P4.7 billion, representing 28,146 tonnes of concentrate. By comparison, the P7 billion recorded in 2023 was from 54,808 tonnes.
Last year, production of copper concentrate marginally declined to 48,758, yet the total value of exports shot up past P10 billion.
The production was led by MMG’s Khoemacau Copper Mine and Sandfire Resource’s Motheo Mine, both located on the Kalahari Copperbelt and representing the country’s newest copper producers. Khoemacau produced its first concentrate in June 2021, whilst Motheo was commissioned in 2023.
Minerals and Energy minister, Bogolo Kenewendo, recently provided an update on the country’s copper production.
“Motheo production commenced in July 2023 at the T3 pit and achieved first year production total of 41,000 tonnes of copper, from a head feed of 3.2 million tonnes. “Production from the A4 pit started in December 2024, which saw an increase of head feed ore tonnage from 3.2 million tonnes per annum to 5.2 million tonnes per annum thus increasing copper concentrate production by approximately 50%,” she said.
Kenewendo said by December 2024, Khoemacau had produced a total of 39,228 tonnes of payable copper in concentrate as compared to 46,532 tonnes as at December 2023.
The minister said both mines are planning expansions.
“Future expansion plans of the Khoemacau includes increasing output to 130,000 tonnes of copper and five million ounces of silver per year with additional investment estimated at $700 million over a period ending 2026. “To increase its resource base and extend the life of mine from the current 10 years, Sandfire is conducting an extensive exploration exercise within the Kalahari Copperbelt and Okwa Valley, with an annual budget of approximately P135 million,” she said.
Besides Khoemacau and Motheo, Kopano Copper, formerly known as Mowana Mine, is reportedly stabilising its output and pumping out steady volumes.
Meanwhile, Premium Resources, the company resurrecting BCL Ltd, recently raised CA$46 million (P441m) to advance the Selebi-Phikwe project and continue conducting other exploration work.
Premium Resources snapped up the Selebi and Selebi North shafts, as well as Selkirk Mine from government, in a deal pegged at P837 million two years ago. The transaction includes related infrastructure such as rail, power, and waterworks, and a pledge to spend P5 billion in reviving the assets that have been mothballed since 2016.
Kenewendo, said mine construction for both Selebi and Selkirk were due in 2026 leading to production in the second half of 2027, according to Premium Resources’ plans.
Copper is one of the most sought-after minerals in the global energy transition, with its prices rising markedly in recent years.
BHP, the world’s largest mining group, is on a global hunt for copper assets and recently announced plans to invest up to $25 million (P341 million) to earn a 75% interest in an upcoming project on the Kalahari Copperbelt.
