Multi Billion Pula Motheo Copper Mine officially open
Sandfire Resources Limited this week officially opened the Motheo Copper Mine in Botswana, headlined by His Excellency Dr. Mokgweetsi Eric Keabetswe Masisi, the President of the Republic of Botswana.
The official opening ceremony was held on site at Motheo, approximately 70km north-east of Ghanzi.
Sandfire’s Board approved the development of the Motheo Copper Mine in December 20201 and first copper concentrate was produced less than three years later, in May 2023.
Ramp-up in throughput towards the initial 3.2Mtpa processing rate is on the cards with nameplate capacity already achieved across a number of shifts and copper recoveries of around 90% recorded.
With construction and commissioning activities for the 3.2Mtpa development effectively completed on time, and an inaugural shipment scheduled for August
Over its initial ten year life, Motheo is expected to generate attractive returns for our shareholders and deliver significant value to the people of Botswana through the payment of taxes and royalties, and long-term employment,training and development opportunities.
Sandfire Managing Director and CEO, Brendan Harris, said: “The official opening ceremony marks an important milestone for Sandfire and provides an opportunity to acknowledge the community, our people and the many contractors who have contributed to the timely and safe development of our newest operation.
Motheo Copper Mine will make a significant financial contribution to Botswana in the years ahead.
The mine will contribute a minimum of BWP 3.3 billion in earnings through the payment of royalties, company tax and withholding taxes to the Botswana Government once it is fully operational.
It is also estimated that the Botswana Government will receive a further BWP 385 million from payment of employee payroll taxes.
Additionally, Sandfire will contribute BWP 1.7 billion for electricity payments to the Botswana Power Corporation during the current estimated life of the mine which is twelve and half years.
When officially opening the mine President Masisi said these funds will provide the Botswana Government with the opportunity to advance important policy priorities, including those in the Minerals and Energy sector.
The Motheo team is focused on the planned rapid and low-cost expansion to 5.2Mtpa, which is expected to see annualised contained copper production increase to more than 50kt in FY20252.
This new BWP 5.3 billion investment will provide another one hundred (100) construction jobs and 35 fulltime positions, and further improve the returns for the country and our people.
