MMG Limited (MMG) recently hosted an official welcome ceremony to celebrate the acquisition of the Khoemacau mine, located in Botswana.
This follows the completion of the acquisition of the parent company of Khoemacau mine for an effective Enterprise Value of US$ 1,875 million, last month.
This important acquisition aligns to MMG’s vision of creating a leading international mining company for a low carbon future and will create meaningful long-term value for MMG shareholders.
As part of his welcoming remarks, MMG’s Chairman Jiqing Xu noted that the addition of Khoemacau to the Company’s portfolio of assets is an important step in achieving the vision of creating a leading international mining company for a low carbon future.
“Khoemacau is a high-quality operating mine with a strong expansion case, located in one of the most prospective mining regions in Africa, the Kalahari Copper Belt. This transaction aligns with our strategy to pursue value-accretive external opportunities, while continuing to drive significant organic growth opportunities across existing operations.”
MMG Interim CEO Liangang Li, noted:
“We are excited to bring the Khoemacau operation into the broader MMG family and to expand our interests in copper, a commodity with robust forward demand given its importance to global decarbonisation efforts.”
“As we look ahead, the acquisition of Khoemacau will support our broader strategy to increase our copper production through the Chalcobamba development in Peru and the completion of the Kinsevere Development Project.”
“We look forward to continuing the next successful chapter of the Khoemacau story as we work to deliver the expansion of this asset together with our local team, contractors, community and broader stakeholders.”
About MMG
Founded in 2009, MMG’s vision is to create a leading international mining company for a low carbon future. The company is headquartered in Melbourne, Australia and listed on the Hong Kong Stock Exchange (HKEX1208). MMG operates and develops copper, zinc and other base metal projects across Australia, Botswana, the Democratic Republic of Congo and Peru.
About Khoemacau
Khoemacau is a high-quality operating mine with a strong expansion case, located in one of the most prospective mining regions in Africa, the Kalahari Copper Belt, in Botswana.
The Khoemacau Mine is a large, long-life copper mine located in northwest Botswana, in the emerging Kalahari Copperbelt. The tenement package hosts the tenth largest African copper mineral resource by total contained copper metal and is one of the largest copper sedimentary systems in the world outside of the Central African Copperbelt.
Media Enquiries
Andrea Atell
0439 689 991
andrea.atell@mmg.com