African Copper awards $113m Botswana mining contract to Buildmax
JOHANNESBURG (miningweekly.com) – Messina Copper Botswana, a subsidiary of Aim- and Botswana-listed production and exploration company African Copper, has awarded JSE-listed Buildmax subsidiary Diesel Power Mining a new long-term contract to provide hard-rock opencast mining services at African Copper's Thakadu and Mowana openpit copper mines, in Botswana.
The $112.7-million contract, which started in February and had a duration of 52 months, would see Diesel Power undertake mining activities at Thakadu for the first four months before moving to Mowana for the remaining 48 months.
The scope of the contract outlined the application of conventional openpit mining and drilling, with the majority of the required $18-million mobile plant and equipment to be sourced from the existing Buildmax fleet.
All required asset-based funding would be jointly funded by Diesel Power and a third-party financier.
Under the terms of the contract, Diesel Power would deploy a “highly-qualified” management team with extensive experience in Africa, while Buildmax would establish permanent support structures at the Mowana mine.
Buildmax said in a statement on Wednesday that the contract would contribute towards improving the company’s operating margins, commensurate with commodity and country risks.
“It will also further the group’s strategic objectives of diversifying into hard-rock commodities and geographic regions outside of Mpumalanga to complement the group’s existing operations in South Africa and in the Republic of Congo,” it stated.
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