Khoemacau pledges P3bn in royalties to govt

Khoemacau Copper Mine, a 62,000 tonne per annum operation currently under construction, expects to put US$263 million (P2.8bn) into government’s hands through royalties during its lifetime.

The mine is being developed by Cupric Canyon Capital, a firm powered by London-based natural resource private equity titan, Global Natural Resource Investments.

Cupric Canyon already has a funding package of P7.3 billion for Khoemacau, located on the Kalahari Copperbelt. The first copper out of the facility’s gates is expected by April 2021 and the mine has a lifespan of approximately 21 years. The developing company took over the mothballed Boseto in July 2015 and it will use the failed mine’s processor for the new, high-tech Khoemacau. Boseto and Khoemacau have neighbouring orebodies.

Editor's Comment
Botswana deserves ideal political leaders

This remains to be seen, particularly as opposite unity has been seeing its ups and downs. In 2012, three opposition parties namely the Botswana National Front (BNF), the Botswana Movement for Democracy (BMD), and the Botswana National Front (BNF) formed a political alliance under the Umbrella for Democratic Change (UDC). The Botswana Congress Party (BCP) would, after rebuffs, join the coalition in 2017.The promise made by the coalition to its...

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