African Copper Plc, the┬ácopper mining laity’s status, was bolstered this week when government┬ágranted it a conditional┬ámining licence┬áfor Thakadu deposits bringing the total number of its mines to two.
African Copper’s Acting Chief Executive Officer, Jordan Soko, has praised the move saying it significantly increases the company resource base at a time┬áwhen it is recording outstanding production upturn.
“The development of Thakadu provides significant economic benefits to our mining operations in Botswana. We will be able to substantially increase capacity utilisation of the enhanced infrastructure at Mowana and take our total production to a new higher level.
“I am delighted that we have been able to announce a further successful plank in our business strategy. We can now switch our development focus to the nearby Makala deposit and look forward to increasing the resource/reserve base in African Copper’s highly prospective licence areas,” he said.
Thakadu┬ádeposit will be mined as a satellite operation from┬áAfrican Copper’s┬áflagship┬á mine of Mowana mine.
Thakadu’s high grade mineral reserve will be developed in an initially small scale (and relatively low cost) operation with low pre-strip mining requirements and will share the Mowana Mine infrastructure and management.
It is anticipated that the current interim open pit cut design would allow for extraction of approximately 1.4 million tonnes of ore.
Thakadu mine┬áis the richest find in its huge swathe of┬áexploration land that fall under African Copper concession area.
┬á?The┬á budding miner, which is thirsty to push its brownish base metal┬á through the throats of the marketsÔÇöon ┬áa five year off-take arrangementÔÇö as┬á it┬á aims to build the northern┬á copper belt of Botswana.
┬áThakadu is 70 kilometers south-west of┬á Mowana Mine,┬á which is the┬á bell weather of┬á African Copper’s┬á intended exploits in Botswana.??So far, Thakadu is the richest find within the basket of African Copper finds, with┬á 5 million┬á tones copper resource at┬á two percent compared to Mowana mine,┬áwhose average copper grade is at 0.71 percent.??The life-span of Thakadu pen pit mine is expected to be┬áthree years with an┬áupside of going underground.??According to the┬áconditional licence┬áAfrican Copper is expected to┬ápreserve┬ásome of the archeological activities which are believed to have been done by Europeans some 500 – 700 years ago. The area is also rich in gold and silver.
African Copper is also working┬áon other “blue sky areas”┬áthat could┬áadd up to what┬áis called┬áthe “development of┬áanother copper belt in the northern Botswana”. ??African Copper also has about 4000 km2 of prospecting area covering┬áMakala, Matsitama and Nakalakwana, which has been described as the target area that might need joint venture operations to mine the area.