China Minmetals Secures Major Copper Mine in Botswana to Bolster Resource Supply

China Minmetals has completed the acquisition of the Khoemacau copper mine in Botswana, one of the largest transactions in the copper sector. Located in the Kalahari Copper Belt, this mine boasts reserves exceeding 6 million metric tons and spans an area over 4,000 square kilometers. With this $1.875 billion deal finalized in November, the Khoemacau mine is set to significantly contribute to copper production, with an initial output target of 60,000 tons of copper and 1.6 million ounces of silver annually.

This acquisition marks a strategic enhancement in China Minmetals' resource security, reflecting its commitment to supporting the burgeoning demand for copper, fueled by emerging industries such as new energy vehicles and renewable energy technologies. As the world’s leading copper consumer, China's strategic move diversifies its import channels beyond its primary suppliers, Chile and Peru, which currently account for over 60% of its copper ore imports.

Industry experts underscore the significance of copper in transitioning to low-carbon energy, highlighting its essential role in electrical applications due to its superior conductivity and ductility. With global copper consumption projected to increase by 24% from 2023 to 2033, securing stable and strategic resources is critical for sustaining the growth of green technologies.