Sandfire’s Motheo Copper Mine in Botswana to Start in 2022
Metal Tiger has noted Sandfire's announcement of granting of a Mining License by the Government of Botswana for the Motheo Copper Mine. Metal Tiger has a capped USD 2m 2% net smelter royalty over production from the Motheo Copper Mine. Metal Tiger also has a 2% uncapped net smelter royalty over circa 8,000km2 of Sandfire's licence holdings in the Kalahari Copper Belt including PL190/2008 (excluding the Motheo Copper Mine project area), which hosts the A4 deposit.
1. Mining Licence for the Motheo Copper Mine granted by the Government of Botswana
2. The grant of the Mining Licence represents the last major permitting milestone required for full-scale construction of the USD 279 million project to commence, with initial site works already underway
3. Updated Mineral Resource for the satellite A4 deposit expected to be finalised in the coming weeks, forming the cornerstone of the strategy to rapidly expand production at the Motheo Production Hub from 3.2million tonne per annum to 5.2 million tonne per annum
Sandfire remains on-track to commence mining at Motheo in early 2022 and deliver first production in early 2023.