(3 minutes read)
· Situated in the Kalahari Copper belt, which stretches fromnorth east Botswana to western Namibia, the Khoemacau mine will be operational by 2021 and is setting a production target of 60,000 tonnes of concentrate annually
· The Southern African country derives more than 20% of its GDP and 80% of the foreign exchange from the mining sector. Of late, this percentage has been declining drastically
· The US-based private equity firm, Cupric Canyon, secured US$565 million last year to develop the Khoemacau mine
Botswana’s newest and only operational copper mine will be on stream soon. Situated in the Kalahari Copper belt, which stretches from north east Botswana to western Namibia, the Khoemacau mine will be operational by 2021 and is setting a production target of 60,000 tonnes of concentrate annually.
Botswana is known more for diamonds. Two other copper mines, which were operational, are now under liquidation. The Southern African country derives more than 20% of its GDP and 80% of the foreign exchange from the mining sector. Of late, this percentage has been declining drastically.
But the forecast is that it may rebound to close to 15% next year riding on the back of the recovery of the diamond market in the wake of buoyancy in the commodity market, despite the continuation of the pandemic and the new copper mine coming on stream. The US-based private equity firm, Cupric Canyon, secured US$565 million last year to develop the Khoemacau mine.
