Cupric to build copper mine
AFP
By our correspondents
July 10, 2015
Gaborone
Cupric Canyon Capital, a private equity firm backed by a unit of Barclays Plc, will spend $200 million to bring its copper-silver mine in Botswana to production, the company said on Tuesday.
Construction of the mine, which will be built by Cupric's Botswana unit Khoemacau, is set to start in 2016 with the first copper expected to be shipped to the markets in 2018.
Cupric acquires undeveloped copper assets with the aim of developing them and then exiting via sales or a public listing.
Cupric's Africa chief executive Sam Rasmussen told reporters the mine would produce 50,000 tonnes of copper and 1.8 million ounces of silver per year.
"The cost of the mine would have been much higher had it not been for the processing plant we have acquired," he said.
Khoemacau recently concluded a deal to buy the mothballed Boseto Mine, which is 30km (18 miles) away from its new mines site.
Cupric Canyon Capital, a private equity firm backed by a unit of Barclays Plc, will spend $200 million to bring its copper-silver mine in Botswana to production, the company said on Tuesday.
Construction of the mine, which will be built by Cupric's Botswana unit Khoemacau, is set to start in 2016 with the first copper expected to be shipped to the markets in 2018.
Cupric acquires undeveloped copper assets with the aim of developing them and then exiting via sales or a public listing.
Cupric's Africa chief executive Sam Rasmussen told reporters the mine would produce 50,000 tonnes of copper and 1.8 million ounces of silver per year.
"The cost of the mine would have been much higher had it not been for the processing plant we have acquired," he said.
Khoemacau recently concluded a deal to buy the mothballed Boseto Mine, which is 30km (18 miles) away from its new mines site.
-
Jake Paul's Sweat Marks Raise Eyebrows: 'Proximity To Epstein Friend Or Amphetamines?' -
Nancy Guthrie Update Today: Expert Say Police May Be Ignoring Major Risk About The Suspect -
Oil Hits Near $100: Six Cargo Ships Attacked In Persian Gulf, Immobilizing The Energy Market -
Kim Jong Un's 'reaction' To North Korea Embassy 'attack' Sparks Memes -
Nicole Kidman Takes Major Decision Post Keith Urban Divorce -
Southern Charm's Austen Kroll Clears Air On Salley Carson Dating Rumors -
AI Data Centres Become New Frontline In Modern Warfare– Here’s Why -
EU Halts Trade Vote: Lawmakers Insist US Must Respect Deal In Tariff Probe Limits -
Leonardo DiCaprio’s Private Reality TV Addiction Comes To Light -
Elon Musk’s Tesla Enters UK Power Market, Aims To Supply Electricity To Homes -
LinkedIn Among Top Sources For AI Chatbots, Study Finds -
Pentagon Allows Rare Exemptions For Anthropic AI Tools Despite Ban -
Rebecca Gayheart Reveals What Makes Her 'mad' Days After Eric Dane's Death: 'It’s Been Challenging' -
China Passes New Ethnic Unity Law: What It Means For Minority Rights And Identity -
AI Chatbots Give Teens Dangerous Diet Advice, Study Finds -
What Happens If ChatGPT Gains Access To Your Financial Accounts? Experts Are Alarmed