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Copper resources 6.4 million tons! This Chinese mining company has added another heavy overseas assets!
Minmetals Resources will "win" one of the world's high-quality new copper mines with $1.875 billion Khoemacau mine! On November 21, Minmetals Resources announced that it had signed a share purchase agreement to acquire all the issued shares of CUPROUS CAPITAL LTD at a price of US $1.875 billion. The target of the acquisition indirectly wholly owns a large copper mining Khoemacau in Botswana, Africa. It is reported that the transaction will be completed in the first half of 2024, and the purchase consideration is expected to be paid through a combination of shareholder loans and third-party financing.
Minmetals Resources will "win" one of the world's high-quality new copper mines with $1.875 billion Khoemacau mine!
On November 21, Minmetals Resources announced that it had signed a share purchase agreement,Will beThe acquisition of all outstanding shares of CUPROUS CAPITAL LTD at a price of US $1.875 billion, the subject of the acquisition indirectly wholly owned a large copper mining Khoemacau located in Botswana, Africa. It is reported that the transaction will be completed in the first half of 2024., the purchase consideration is expected to be paid at the time of delivery through a combination of shareholder loans and third-party financing.
According to the announcement and the official website of Minmetals Resources, the Khoemacau mine is a large, long-life copper mine in northwestern Botswana, located in the emerging Kalahari copper belt. The 4040 square kilometers of mining rights of Khoemacau mine,It has the tenth largest copper mineral resources in Africa (in terms of total copper-containing metal), with mineral resources including6.4 million tons of copper metal and 6.3 billion ounces of silver metal, one of the largest copper deposition systems in the world outside the Central African copper belt.
Source: Khoemacau company official website
The project has successfully climbed to design capacity,At present, the production capacity of copper concentrate is per year.50000 tons of copper content, and plans to increase the copper concentrate production capacity to 130000 tons of copper content by 2028/2029, with an estimated mine life of at least 20 years and possibly more than 30 years.The mining method of the mine is underground deep hole open field mining method, and the treatment method is regular sulfide ore flotation. Minmetals Resources also said that the resource drilling results show that the existing resources are continuous in depth, and the mine also has several exploration targets, which may extend its life or increase its production capacity.
On the 21st, Minmetals Resources held a network meeting to introduce the transaction. the reporter learned that,Botswana, the country where the mine is located, is a world-class mining development area with perfect regional infrastructure and transportation conditions, as well as a stable mining development and investment jurisdiction environment.While the Kalahari copper belt is a large copper-silver mining area with a length of moreIt is 1,000 kilometers wide and 180-240 kilometers wide. It is composed of metamorphic sedimentary rocks and metamorphic volcanic rocks on the northwestern edge of the Kalahari Craton (Kalahari Craton). It is Khoemacau located in a high-potential metallogenic prospect area on the copper belt, with a large mineral right area and huge mineral potential.Khoemacau mine was completed at a lower cost in June 2021 and achieved full production capacity in its current phase by the fourth quarter of 2022. The project signed a 3-year underwriting agreement with Tork. At present, all prospecting rights have been renewed by the end of 2022 and are in good condition.
Minmetals Resources is a listed company under China Minmetals. It was established in 2009 and is headquartered in Melbourne, Australia. It is listed on the Hong Kong Stock Exchange. It operates and develops copper, zinc and other basic metal projects in Australia, Congo (DRC) and Peru.
The company has a number of large-scale mining projects, including one of the world's largest copper mines in Peru Las Bambas copper mine (62.5 per cent), Kinsevere in the Republic of Congo (wholly owned), Australia's underground polymetallic Rosebery (wholly owned) and Dugald River (wholly owned), one of the world's top 10 zinc mines in Australia. it is reported that,This timeIf the acquisition of Khoemacau Mine can proceed smoothly, it will help reduce the asset concentration of Minmetals Resources, increase its copper resource reserves, and provide important support and assistance for the company to achieve transformation and upgrading, and become the world's top ten copper producers in the future.
Image source: Minmetals Resources official website
Xu Jiqing, chairman of Minmetals Resources, said that the acquisition of Khoemacau Copper Mine is an important step for Minmetals Resources to achieve "building an international leading mining company for a low-carbon future" and will create important long-term value for its shareholders. Khoemacau is a high-quality in-production mine with strong expansion potential and is located in one of Africa's most promising mining areas, Botswana's Kalahari copper belt, which can support global supply chains. This transaction is in line with Minmetals Resources' strategy to seek external value-added opportunities while continuing to drive organic growth in existing businesses. At the same time, the acquisition also demonstrates the company's firm confidence in commodity copper. As the global energy transition accelerates, it will bring strong long-term demand for copper.
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