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
Batswana need to do better to stop FMD

It is a clear signal that the government’s purse is empty and that our own behaviour has left veterinary officials fighting with one hand tied behind their backs. We have been here before. During COVID-19, many of us thought we knew better. We ignored simple rules, we carried on as if the danger was someone else’s problem, and the virus took lives and left our economy on its knees. We are still broke from that experience. Yet now, with FMD...

Have a Story? Send Us a tip
arrow up