Cupric seeks P3.5bn to build new copper mine

Rasmussen
Rasmussen

Mining company, Khoemacau says it will approach the markets to raise up to $350 million (P3.55 billion) needed to bring its new copper and silver mine at Somelo in the northwest region to production.

The construction of the mine is set to start in late 2016 with the first copper shipment to the markets expected in 2018.

In an interview with BusinessWeek, Cupric Canyon Africa Chief Executive Officer, Sam Rasmussen said the mine will produce 50,000 tonnes of copper and 1.5 million ounces of silver per annum. Cupric Canyon Africa is the parent company to Khoemacau.

Editor's Comment
Gov't must guard against cadre deployment

As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...

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