'Why we didn't bid for Khoemacau'

Friday, April 26, 2024 | 250 Views |

Presiding: Moagi was the guest of honour at last week’s occasion to mark Khoemacau’s takeover by MMG PIC: THE PROJECT MAGAZINE

Minerals and Energy minister, Lefoko Moagi, has revealed that government opted not to make an offer for Khoemacau Copper Mine when it was put up for sale last year, as the state had technical deficiencies.

Chinese state-powered firm, MMG, has finalised the purchase of Khoemacau for about P25 billion, the largest private-sector transaction to ever happen on local soils.

Speaking last week in Maun at a ceremony to mark MMG’s takeover, Moagi said government was aware of the capital value to be tapped from the Khoemacau mine as a strategic asset, as the world hunts for copper as a critical mineral.

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