MMG Limited (1208.HK)
- Reuters
China's MMG seals $1.9 billion deal to buy Khoemacau copper mine in Botswana
"The acquisition of Khoemacau mine is an important step in achieving our vision of creating a leading international mining company for a low carbon future and will create meaningful long-term value for our shareholders," MMG Chairman Jiqing Xu said in a statement. Smelters in China, the world's top consumer of refined copper, face an increasing challenge in securing copper concentrate, as they boosted capacity in recent years amid slower mining output growth. Reuters in September reported that at least three South African miners were in a race to buy the mine that is home to one of Africa's largest copper deposits, as growing demand for the metal ensures strong competition for the sought-after asset.
- Investing.com
China’s MMG to buy Khoemacau copper mine for $1.88 bln
Investing.com-- Chinese copper miner MMG Ltd (HK:1208) said on Tuesday that it had signed a deal to acquire Cuprous Capital, the holding company that controls the Khoemacau copper mine in Botswana, for $1.88 billion.
