MMG Limited has successfully completed the acquisition of the high-quality Khoemacau copper mine in Botswana, significantly enhancing its copper production capacity and positioning itself strategically within the growing global copper market.

Information on the Target

MMG Limited (MMG) has recently released its 2024 Interim Results, highlighting significant improvements in operational and financial performance for the first half of the year. Notably, the company reported a Total Recordable Injury Frequency (TRIF) of 2.44 per million hours worked, an indicator of its commitment to safety and operational excellence. Furthermore, MMG achieved an EBITDA of US$779 million, reflecting a 23% increase compared to the same period in 2023, and a net cash flow from operations of US$515 million, marking a 21% rise against the previous year.

The company strengthened its financial position through a successful Rights Issue in July, which reduced estimated gearing to 45%, the lowest since the acquisition of the Las Bambas mine. Additionally, MMG has completed the acquisition of the Khoemacau copper mine in Botswana, recognized as one of the highest quality copper mines globally, positioned in the promising Kalahari Copper Belt.

Industry Overview in Botswana

Botswana’s mining sector, particularly copper, is becoming increasingly significant within the global market. The Kalahari Copper Belt has emerged as an area of burgeoning potential, attractin