Motheo on track - Sandfire
PERTH (miningweekly.com) – Copper miner Sandfire Resources is on track to start first production at its Motheo copper mine, in Botswana, in the first half of 2023.
“Despite the challenges confronting new construction projects around the world, our team has been doing a wonderful job, keeping the project firmly on track, on time and on budget and, importantly, ensuring the health and safety of our employees and contractors at all times. We already have over 1 000 people on site, and we expect this to increase to 1 500 over the course of the year,” said Sandfire MD and CEO Karl Simich.
“Motheo is one of the few new long-life copper mines under construction and, together with our recently acquired MATSA Mining Operation in Spain, will be a key driver of Sandfire’s growth into the future.
“We are looking forward to seeing this substantial new copper mine rapidly take shape. We are also looking forward to the completion of the 5.2-million-tonne-a-year Motheo expansion case definitive feasibility study next quarter, which will define our rapid growth pathway as soon as production commences.”
The base-case operation would require a capital investment of $259-million, and based on a 3.2-million-tonne-a-year operation, delivering 30 000 t/y of contained copper and 1.2-million ounces of contained silver over an initial mine life of 12.5 years.
Sandfire will fund the development of the Motheo copper mine through a combination of cash and project debt. Credit committee approved offers for debt financing of the $160-million required for the base case development have now been received from the company’s short-list of potential international lenders. The selection of syndicate banks and finalisation of terms will be completed during the March quarter.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...
VISIT SHOWROOM
From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
