The Kalahari Copper Belt, which extends for almost 1,000 km from northeast Botswana to western Namibia, is believed to be one of many world’s rising however principally under-explored copper-silver areas on the planet.
The three.2 million tonnes each year open pit mine might assist Botswana curb its dependence on diamond mining, a sector that accounts for 70% of the nation’s export income.
Preliminary web site works at Motheo started earlier this yr, with sterilization drilling, a 15km entry highway and development of a 200-person camp already effectively superior.
Sandfire will now convey extra workers on web site to start development of the method plant and different infrastructure. The corporate mentioned that it had already positioned orders for all key course of gear and long-lead gadgets.
“We’re completely delighted to now be ready to maneuver to full-scale development at Motheo,” managing director and CEO Karl Simich said in the statement.
“I want to thank the Authorities of Botswana for his or her assist all through the approvals course of, which can see Motheo come on-stream in 2023 as one among only a few new copper mines commencing manufacturing globally,” Simich mentioned.
Second mine in Kalahari Copper Belt
Definitive feasibility work on the T3-Motheo venture has beforehand confirmed manufacturing common of 30,000 tonnes a yr of contained copper and 1.2 million ounces a yr of contained silver over the primary decade of the mine life.
Motheo is predicted to provide for 12.5 years, producing $664 million in pre-tax money flows and $987 million in earnings earlier than curiosity, taxes, depreciation and amortization over the primary ten years of operations, at a value of $1.76 per pound.
Sandfire’s mine is the second copper operation within the area. US-based Cupric Canyon started manufacturing at its 3.6 million tonnes each year Khoemacau copper mine in June.