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Minister of Minerals & Energy Hon Lefoko Maxwell Moagi has revealed that MMG Limited , the new owners of Khoemacau Copper Mining will set up beneficiation activities in Botswana to add value to the product and create thousands of Jobs locally.
Minister Moagi was speaking during the change of Khoemacau ownership ceremony in Toteng.
MMG Limited ,listed on the Hong Kong Stock Exchange acquired Khoemacau’s parent company Cuprous Capital at over P23 billion in a one of the largest transactions inthe history of Botswana. MMG major shareholder is China Minmetals Corporation(CMC), a China state owned industrial giant.
β In our engagements with the MMG management we emphasized the need to develop local upstream and downstream linkages to add value to minerals development in the country, as it is the Mineral Policy objective to enhance the domestic economic benefit from minerals development through beneficiation and value addition activities in Botswanaβ Moagi said when giving the key not address .
β MMG management have assured me that the times have now come to an end for repatriating copper concentrates, they will be setting beneficiation activities here for more Batswana to be involvedβ
Minister Moagi hailed MMG βs global footprint as an advantage that will be leveraged into the local mining industry.
β They are part of a larger group, China Minimetals Corporation, one of the biggest metals and industrial companies in the world , we will be looking at leveraging on these skills and building those industries here in Botswanaβ
SOURCE:theprojectsmagazine
