KHOEMACAU COPPER MINING PTY LTD
The Cupric Canyon subsidiary has spent the past few years discussing , planning and drilling in Botswana , and is now ready to move towards the start of construction next year followed by production in 2017
Symbolic ground breaking at the second quarterly meeting 2014
The Khoemacau Project is in full swing having been rigorously planned over the past five years , and is now gearing up for the construction phase in line with its goal of beginning production in 2017 .
Formed under the global Cupric Canyon Capital company following the acquisition of Hana Ghanzi Copper Ltd in early 2013 , Khomecau has subsequently built upon the work already being carried out in the region knowing that the expertise available within the Cupric Canyon organisation would be a perfect match for the project .
After a review of more than 250 projects throughout the world , the Khoemacau Project was chosen based on very selective criteria , as Chief Executive Officer , Sam Rasmussen explained : “ We ’ re a private company , and our goal is to create value for all of our stakeholders while maintaining the highest industry standards for safety and the environment .
“ The benefits of developing an operation such as this in Botswana included the quality of the project , the ease of operating here , the attractive labour force , the transparency and lack of corruption in the country and the investor-friendly mining code and legislation that exists here .
“ We identified what Hana had done up to that point and we were very impressed with the results . Although the M & I ( measured and indicated ) reserves were low at the time , we had a very strong sense for the project ’ s upside potential which has since been confirmed .”
238 December 2014