MMG-Khoemacau expect demand to exceed supply
The future of copper mining in Botswana looks brighter as global demand is projected to exceed supply.
This was revealed by Minister of Mineral Resource and Energy, Lefoko Moagi in Toteng last Friday, where a Chinese Mining company; MMG was celebrating its take-over of Khoemacau mine.
Toteng is located about 70 kilometres South of Maun, a tourism capital in North West District.
Moagi indicated that the MMG’s acquisition of Khoemacau Copper Mining represents not only a strategic business move but also a commitment to the future prosperity of Botswana, “There is abundance of opportunities for growth and expansion in this sector,” he said.
Moagi said the arrival of the Chinese heralds a new chapter in Botswana’s mining storyline.
He said with MMG’s extensive experience and resources, he is confident that the company will contribute significantly to the continued growth and success of the mining sector in the country.
In fact he said the acquisition heralds a new chapter in Botswana’s mining story line.
The Minister said with MMG’s global expertise and resources coupled with Botswana’s conducive investment climate, they’re poised to unlock new opportunities and realise the full potential of the country’s natural resources.
“MMG’s commitment to doubling production, generating employment and increasing royalties and tax contributions reaffirms their alignment with Botswana’s development priorities of job creation and economic growth,” Moagi said.
Furthermore, the Minister said the acquisition emphasises minerals policy objectives of attracting foreign direct investment (FDI), job creation, economic diversification, sustainable growth as well as fostering a conducive business environment in the minerals sector.
“It is a testament to Botswana’s attractiveness as an investment destination and a reaffirmation of the confidence that the global community places in our nation’s future,” he said.
Speaking at the same ceremony, Batawana Paramount Chief, Kgosi Tawana Moremi noted that the change of ownership is indicative of the importance of shared values and common sustainable development goals towards sustaining livelihoods and economic development.
“We live in a world of changes so profound and rapid that no society or organisation can stand alone. Today’s world is faced with interlinked threats and challenges that require shared responsibilities and contribute to a common vision of sustainable development,” Moremi said.
Welcoming the development Member of Parliament for Ngami, Carter Hikuama noted that the acquisition of Khoemacau Copper Mining by MMG implies key underpinnings of sustainable economic development.
He said it largely trust between Botswana and the Chinese government that enabled the huge progress in economic globalisation over the past decades.
“It is well known that in Botswana China’s business interests have mainly been on wholesales, shops and construction. This transaction has ushered a new trend where we now see Chinese capital investment in mining in,” he said.
“This gesture by MMG to acquire, operate and expand mining in our region and country strengthens macroeconomic development, builds greater synergy for global growth,” said Hikuama.
Khoemacau mine is now known as MMG-Khoemacau mine.
Khoemacau acquired the mine from Discovery Metals Limited’s Boseto mine in 2015 when the latter closed following liquidation after only three years of operation.
