MMG to Spend $900 Million Toward Copper Mine Expansion in Botswana

Dow Jones Newswires

By P.R. Venkat

Chinese state-owned miner MMG plans to spend about $900 million to expand its Khoemacau mine in Botswana, as it seeks to strengthen its position as a major producer of copper.

The company on Monday said that its board had approved the expansion, which would lift the mine's production capacity to about 130,000 metric tons of copper in concentrate, along with more than four million ounces of silver.

The expansion would extend mining into the Zone 5 North, Mango and Zeta North-East deposits and include construction of a new processing plant with a capacity of about 4.5 million metric tons a year.

MMG said life-of-mine average C1 cost--a standard industry measure of direct mining, processing, and transport costs--was expected to fall below $1.60 a pound from $2.05 a pound in the six months ended June 30, 2025.

The expansion is aimed at improving the long-term profitability and scale of the company's copper portfolio, it said. Copper is extensively used in the manufacture of electric vehicles and semiconductors.

Looking ahead, Khoemacau has further expansion potential of up to 200,000 tonnes of copper per annum, supported by ongoing exploration activities.

"A pre-feasibility study for the next expansion phase is scheduled to begin in 2026," MMG said.

Write to P.R. Venkat at venkat.pr@wsj.com

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MMG to Spend $900 Million Toward Copper Mine Expansion in Botswana

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