Thursday, July 18, 2024

New Khoemacau owners plan nearly P10 billion investment 

The new owners of Khoemacau plan to pump $700 million (P9.5 billion) in the copper mine, expanding production, as the demand for copper projected to be rise.

At the Future of Mining summit held this week, Khoemacau chief executive officer, Johan Ferreira, disclosed that the new owners, MMG, was prepared to fund the expansion that will see the mine increasing production from 30 000 tonnes to 130 000 tonnes, with silver output also increased from 5 million ounces a year from 1.6 million. The expansion is expected to add jobs, forecasting 2,800 jobs from 1,700.

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