Motheo inches closer to funds

Motheo Copper Mine PIC: INTERNET
Motheo Copper Mine PIC: INTERNET

Sandfire Resources’ contracting partner at the Motheo Copper Mine, African Mining Services (AMS), has completed the selection of syndicate international banks for a $160 million debt facility as the finalisation of terms advances well, Business Monitor has established.

Sandfire intends to fund the development of the Motheo Copper Mine through a combination of cash and project debt. Progress at the copper mine is ongoing with the first pre-strip material mined at the T3 Open Pit deposit in late March, approximately one week ahead of schedule against the project execution plan, with mining currently making excellent progress.

The company is also nearing completion of the feasibility study for the 5.2Mtpa expansion case at Motheo, which is due for completion in June. According to the mine, the entire infrastructure currently under construction at Motheo is being built to support this proposed expanded capacity, supporting Sandfire’s plans for Motheo to become the heart of a major new processing hub in the Kalahari Copper Belt.

“Vein-hosted mineralisation within the A4 Mineral Resource has delivered some outstanding intersections including a standout 35.7m at 7.1 percent Cu and 116g/t A4*. There is potential for further high-grade vein-hosted mineralisation along the A4 Dome and in other targets within the Motheo Expansion Project,” read a statement.

Sandfire had secured a mining licence from government for its $279 million Motheo Copper Mine in the Kalahari Copper Belt. The 1,000-kilometre belt running from southwest to northwest is found to contain millions of tonnes of copper and silver resources, but its heavy sands and lack of grid electricity have kept development at bay over the decades.

Motheo is a substantial new long-life copper mine and one of the few new copper mines under construction. It is expected to become the cornerstone of a long-term copper mining hub for Sandfire in the world-class Kalahari Copper Belt.

Editor's Comment
What about employees in private sector?

How can this be achieved when there already is little care about the working conditions of those within the private sector employ?For a long time, private sector employees have been neglected by their employers, not because they cannot do better to care for them, but because they take advantage of government's laxity when it comes to protecting and advocating for public sector employees, giving the cue to employers within the private sector...

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