Suitors circle as Khoemacau goes on sale :: Mmegi Online

Bidders have started their assessments of Khoemacau Copper Mine, which this week confirmed its availability for sale, with a deal possible by October, BusinessWeek has established.

“A comprehensive and global process will be conducted to seek a capable and responsible buyer for Khoemacau,” a company representative said in a statement. “If it transpires, this potential change of ownership, is expected to bring significant positive consequences for Botswana and the mine’s stakeholders.”

Khoemacau is majority owned by Cupric Canyon LP, with funds advised by Global Natural Resources Investments (GNRI) and by Resource Capital Fund VII LP. GNRI was formed from a 2015 management buyout of Barclays Plc’s private equity unit and, according to Bloomberg, the investment group has been considering options for Khoemacau for at least a year.

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