Khoemacau Copper Mines this week announced a watershed financial boost that will kick start construction of its Copper Silver Project located in North East district of Botswana.
On Monday the company, owned by Cupric Canyon Capital announced the successful signing of US$565 million (around P 5.9 billion) capital injection, as funding package to commence development of the project to unearth high grade copper and silver concentrate. According to a statement released by the company on Monday the US$565 million of funding includes a US$275 million (P2.9 billion) senior debt facility from Red Kite Mine Finance and a US$265 million (P2.8 billion) silver stream from Royal Gold AG a wholly owned subsidiary of Royal Gold, and a US$25 million (P263 million) subordinated debt facility also from Royal Gold.
Khoemacau explains that the Project Funding Package will be used for construction of the company’s 3.6 million tonne per annum Starter Project at Khoemacau processing ore from a 91 million tonne resource1 at a head grade of 2.02 percent copper and 21.4g/t silver copper.
The direct construction cost of the Starter Project is US$397 million over a two-year construction timeline. First copper concentrate production is expected in the first half of 2021, with initial annual production averaging 62,000 tonnes copper and 1.9 million ounces of silver,” reads the statement from the company.
Cupric Canyon has been developing the Khoemacau Project, a 4,040 square kilometre land package in northwest for the past 6 years. One of the deposits within the Khoemacau Project, Zone 5, was initially discovered in 2012 and has since become the flagship deposit after being acquired by the company in 2013.
According to the statement, since acquiring deposits the company has drilled 285,000 metres, completed permitting and land access agreements, secured the required power and water, and undertaken advanced engineering, procurement and mobilization such that it is ready for full construction release of the Starter Project, pending closing of the Project Funding Package. In 2015, the company acquired the Boseto assets a previously operated copper project adjacent to Zone 5 following liquidation of Australian outfit Discovery Metals.
This acquisition offered the company access to the 3.0 million tonnes per annum Boseto processing facility located 35 kilometres from Zone 5 along with extensive infrastructure, and various mineral resources and licenses. Since acquisition, the Boseto assets have been incorporated into the Starter Project development plan.
Khoemacau Mining also states that the Starter Project development plan now involves the fully mechanized underground mining of sulphide ores at Zone 5 at a rate of 3.6 million tonnes per annum using the upgraded Boseto processing facility for crushing, milling, flotation and production of a high-grade copper silver concentrate. The Starter Project is expected to produce a high quality copper concentrate with an average grade of approximately 40 percent copper and high-grade silver.
This according to information from the company will results in annual average production of 62,000 tonnes copper and 1.9 million ounces silver per annum over a 21-year mine life. The average life-of mine C1 cash costs, net of silver by-product credits, are US$1.47/lb at consensus pricing and US$1.67/lb including sustaining capex, and before accounting for the silver stream.
Chief Executive Officer of Cupric Canyon Capital Johan Ferreira explained in the statement that the deal is expected to be closed early in the 2nd quarter of 2019 adding that the construction phase is expected to run for two years pushing the Starter Project to produce first concentrate beginning in the first half of 2021, with subsequent ramp-up.
He further added that after closing the Project Funding Package, in addition to advancing construction of the Starter Project, the company will also upgrade the existing Expansion Project pre-feasibility study to a definitive feasibility study. The Expansion Project includes the construction of a new 5.8 million tonnes per annum processing facility near Zone 5 which will produce approximately 100,000 tonnes of copper per annum.
“Securing the Project Funding Package by partnering with two of the industry’s leading global providers of mine finance, Royal Gold and Red Kite, allows us to move forward energetically with all project development activities,” he said.Furthermore Ferreira added that his company will continue exploration on the Khoemacau land package with a focus on the existing high-grade Zone 5 North and Zeta Northeast discoveries, which are envisaged to be processed at the existing Boseto processing facility along with other proximal deposits.
“This step marks the completion of a remarkable evolution of the company from discovery of Zone 5 in 2012 to full construction of a high-quality copper asset in 2019. Being able to commence the development of a large scale fully mechanized mine and deliver high quality jobs and sustainable development in the Kalahari Copper Belt reflects not only the quality of the mining environment in Botswana but also the strong support of Government towards foreign investment and new mine development,” shared Johan Ferreira.
Prices for cereals or staple foods in Botswana and other Southern African countries continue to rise at a slower pace, following trends in the global markets, according to the latest November 2022 Food Price Monitoring and Analysis by Food Agricultural Organization (FAO) of the United Nations.
Running a digital businessMTN Business Solutions Botswana, popularly known as MTN Business is an Internet Service Provider. We are a subsidiary of MTN Group Limited, a multinational telecommunications Group headquartered in South Africa, which operates in 19 markets across Africa and the Middle East.
More and more, clients are looking for ways to keep their staff productive in a dynamically changing business environment. Whether your people are working from home, the office or abroad, there is a growing recognition that digitising your operations can offer unprecedented commercial value in flexibility, productivity and growth. This new, digital reality means that it is more important than ever to stay agile – if there is anything that can slow a business down, it is being burdened by othatld technology.
Having made substantial investments in fibre technology, high-speed terrestrial and undersea networks and new frequency spectrum across the markets wherein it operates, MTN is perfectly positioned to respond to this shift in the market.
A few years ago, MTN also made the decision to build an IP capable radio network for its mobile services, giving its core network the ability to seamlessly integrate with enterprise IP networks. The mobile towers deliver services to enterprise clients absolutely anywhere it has a network, shortening the last mile and removing complexity and cost.
Now there is increasing demand from clients to connect their remote sites in all areas, including rural and semi- rural. MTN has assisted clients with overcoming this connectivity hurdle, enabling their staff to get the job done wherever they are.
For MTN, the focus has shifted from just being a core telecommunications services provider, towards also becoming a technology solutions provider. The service offering now also includes Unified Communications, Data Hosting and Cloud Solutions, Security-As-A-Service and Managed Network Services. The scope has changed to being client and industry specific, so the requirements and service portfolio vary from one client to the next. The expectation is that a company like MTN must respond to these challenges, helping clients to get business done better as they shift from old to new technologies.
As many businesses continue to grapple with a digitally dynamic world, they face new challenges that have to be solved. This environment will benefit those that are more digitally enabled and agile. It is a brave new world that will favour online over on-site, wireless over wired and fluid over formulaic. Businesses will seek out partners and suppliers that are every bit as flexible and forward-looking as they are.
Ultimately, clients need partners like MTN Business that will invest in infrastructure, deliver the services they require, have market credibility, are financially sound and have a long-term commitment to their market presence.
Botswana Institution Of Engineers (BIE), has last week hosted a gala dinner in which they appreciated engineers who worked tirelessly and with dedication for 10 years from 1983 to steer the BIE to its current status.
The event that was held at the Phakalane Golf Estate had brought together young, experienced and veteran engineers and was held under the theme “Vitalize the dignity and eminence of all professional engineers”.
Explaining the theme, the institution’s treasurer, Thanabalasingam Raveendran said that engineers were looked upon reverentially with respect as the educated but with time it seems to have deteriorated. He indicated that there is a need to change the narrative by all means.
“The BIE exists for the welfare and the betterment of us Botswana engineers, we need to recognize specialised units within our Institution. We Engineers strongly believe in Engineers make it happen” Raveendran said.
He indicated that under the theme they appeal to all engineers to energize, to attain quality of being worthy of honour and respect and to achieve recognized superiority amongst the Society.
Raveendran stated that engineers need to ensure their end product is of good quality satisfying the end users expectations and engineers must be honest in their work.
“Approximately 8000 engineers registered with Engineering Regulatory Board (ERB) are not members of the BIE, engineers need to make every effort to recruit them to BIE” he said.
He alluded that BIE being a society, it currently needs to upgrade itself at par with professional institutions elsewhere like the UK and USA.
He further stated that BIE has to have engineering units of specialised disciplines like Civil/Mechanical/electrical etc
“As President Masisi indicated in his inaugural speech, the young people, who make 60 percent of the population of this country, are the future leaders and therefore investing in them is building the bridge to the future” said Raveendran
Kandima indicated that BIE has a memorandum of Understanding with Engineers Registration Board (ERB), where BIE is a recognised provider of CPD training, mentorship programmes and more importantly IPD undertaking to upgrade the skills and know-how of our engineers.
“For us to achieve our mandate and make worthwhile changes to engineering in Botswana, we have to be totally focused and act with intent” said Kandima.
Furthermore, Stephen Williams, past president of the BIE from 1986-1988 told the engineers that the BIE provides a fertile environment where they can meet, share ideas and grow professionally.
“The BIE is also a nesting place for graduate engineers to learn from their peers and seniors, it also cater for engineering technicians and technologists and so nobody in the technology field is left out” he said.
He further indicated that Botswana Government provides a conductive environment for growth of engineering professionals.
“It must be stated that the Botswana Government recognises the existence of BIE and it can further be stated that the government enables ERB to carry out its mandate as a regulator of engineering professionals” said Williams
He plead with engineering companies to recognize and support BIE as it is the only source of engineering personnel’s for various Industries .
Furthermore, when giving his farewell speech, Michael Pinard , a past president of the institution said how they are viewed as engineers by the general public might be due to some lack of appreciation as to exactly what role they play in the development of the country.
“The BIE slogan is aptly coined-Engineers make it happen, in other words, what man dreams engineers create” Said Pinard.