Masisi opens Khoemacau mine
About P10 billion in revenue is expected from Khoemacau Copper Mine over its 22 year operational life from 2021-2042.
The revenue, President, Dr Mokgweetsi Masisi said during the ground breaking and official opening of the mine, comprised direct and induced impacts on the economy with estimated tax revenue of about P700 million as well as other taxes from declared profits, royalties and personal income tax.
He appreciated that the mine project was going to give a new lease of life to the Ngamiland region and the country, noting that it was gratifying to witness the copper mine transitioning from being a project to a fully-fledged production company.
The mine was given impetus by the purchase of Boseto Mine from Discovery Copper Botswana in 2015 to provide blend between a greenfield Zone 5 mine and a brownfield Boseto Processing Plant. The mine, it was stated would see its first concentrate production and export during the second quarter of 2021.
President Masisi learnt that the mine had committed an initial capital expenditure of more than P4 billion to be spent between 2018 and 2021 for developing the necessary infrastructure required to operate it.
The investment, President Masisi stated was quite significant and bore...
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