Today’s story is about Cupric Canyon Capital, a private equity firm that now has $50 million to help bring its copper-silver mine into production.
Cupric Canyon is managed by former executives of Freeport McMoran and they have a mine located in the Kalahari Copper Belt in Botswana. The $350 million mine is expected to produce 50,000 tonnes of copper and 1.4 million ounces of silver a year over its 25-year lifespan. The Khoemacau mine is underground and located in northwest Botswana.
Funds will be used to place the mine in production, as well as cover costs and front end engineering before starting full-scale construction at the site, planned for the second half of 2017.
“This project has the full support of the gvernment of Botswana and the size and quality of the mineral resource makes Khoemacau one of the more attractive new copper projects in the world today,” Cupric Canyon Capital’s CFO, Rodney Prokop, stated.
All of our earthmoving equipment is anxious to make the trip to Botswana and help with the construction of this new copper mine. Check it out by clicking on the blue link!
*All info for this story was taken from mining.com.