Khoemacau upbeat on profitability

SHARE   |   Wednesday, 08 July 2015   |   By Kabelo Adamson

Chief Executive Officer of Cupric Africa, Sam Rasmussen is optimistic about the prospects of successful operation and draw value from Boseto Copper Mine previously owned by Discovery Metals.
In an interview this week when he was in town to give an update to the media and other stakeholders about Khoemacau Copper Mining, a subsidiary of Cupric Canyon Capital, Rasmussen dismissed concerns that Khoemacau will go the route which led to the closure of the Toteng based mine early this year. Rasmussen said Discovery Metals’ main undoing was using the open cast mining technique whereas they will use the underground mining system to retract the minerals. Rasmussen said they expect to produce about 15 000 tonnes per day and will spend about USD 200 million which will be invested in the Zone 5 Operations where the underground mine is being developed adjacent to the Boseto Operations.
He explained that following the acquisition of Boseto, they have also taken the Boseto plant under their ownership and would be using it for the processing of the ore from the Zone 5 operations adding that the plant will only require a little bit of upgrading from its current status.
Khoemacau Copper Mining previously known as Hana Ghanzi has been exploring the Chobe Gantsi located in Kalahari copper belt within the Gantsi and Ngamiland Districts. Rasmussen is confident that they will eventually get return on investment at the Boseto copper mine which was closed earlier this year resulting in job losses of close to 400 people retaining 30 who were tasked with the maintenance care of the mine. The 30 workers, it has been explained, have been transferred under the employ of Khoemacau as of 1st July 2015.
The other major undoing of the Discovery Metals that led to the closure of its mine in March is the lack of the power grid as the region is currently not connected. However, Khoemacau country manager, Johannes Tsimako said government is installing transmission lines which they expect to be fully operational by 2018.



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