MMG has finalized its acquisition of Cupric Canyon Capital, the parent entity of the Khoemacau Copper Mine located in Botswana, for a total enterprise value of USD 1.875 billion. This strategic acquisition places Khoemacau, recognized as one of the premier new copper mines on the global stage, under MMG’s expanding portfolio, aimed at catering to the critical minerals required for a decarbonized world.
Khoemacau boasts an annual copper equivalent production between 50 to 65 thousand tonnes, with plans for an expansion that could see production increase to 135 to 155 thousand tonnes in the near term. With a mine life extending over 20 years and operations set in the lower half of the cost curve post-expansion, Khoemacau presents a robust long-term operation. The mine also holds a significant position within the Kalahari Copper Belt, an emerging and highly prospective area, with a vast tenement package spanning 4,040 km^2. The mine’s resource base includes mineral resources of 6.4 million tonnes of contained copper and 263 million ounces of contained silver, emphasizing its high-value potential. Botswana’s stable and world-class mining and investment jurisdiction further enhances the attractiveness of this acquisition.
MMG received advisory services from Macquarie Capital and Citigroup in completing this significant transaction. This acquisition is in line with MMG’s strategic direction towards enhancing its portfolio with high-quality mining operations, particularly focusing on minerals pivotal to the world’s transition to a decarbonized economy. The addition of Khoemacau to MMG’s portfolio is expected to generate long-term value for its shareholders and reinforces the company’s commitment to copper as a key commodity in the face of escalating global energy transition demands. 
