Khoemacau Copper Mine Up For Sale

CEO assures employees that nothing will change Says the process should take between six and nine months Investors of Khoemacau Copper Mine are seeking potential buyers for the mine in north-west Botswana. This was revealed by the company’s CEO, Johan Ferreira, in a memo dated 27 April addressed to “All Khoemacau Staff, Contractors and Service Providers.” “The Executive Team and the Board are embarking on a process to sell the company, or to be precise, sell the shares or ownership of the company on behalf of the current shareholders,” the memo said. [ihc-hide-content ihc_mb_type="show" ihc_mb_who="1,3,2,4" ihc_mb_template="3" ] According to Ferreira, the process is expected to introduce Khoemacau to a range of international mining companies. After allowing a short list of potential buyers to study the company and its operations, including visiting the mine and meeting the team, they will be allowed to make an offer and negotiate a potential purchase of Khoemacau from current owners. “Such a process will likely take six to nine months to complete, and our objective is to complete it before the end of the year,” said Ferreira “Nothing untoward is really going to change in Botswana and on the shopfloor, as Khoemacau will still be the entity everybody will be seeing,” said the memo about jobs. “There will, however, be a change of ownership; 100 percent of shares shall be transferred to the new entity and, as a result, Khoemacau might become affiliated to another major mining company,” said Ferreira. “Once again, any new company will want to deliver on all the potential and opportunities mentioned above, to ensure Khoemacau will be a highly successful, highly profitable, and safe mining business for many decades to come. “ To do this, he added, the new owners will need a team to operate and lead this business. “As such, we do not expect any human resources to change because of the change in ownership of Khoemacau,” Ferreira said. “Yes, we will need to go through the appropriate Botswana legal and statutory processes and will follow due process to ensure that we are fully compliant to all laws and regulations, as we always do. “I cannot at this stage tell you who is likely to be successful in buying Khoemacau, as the process will only be starting now. However, be assured that with the quality and scale of our company; with operations in a highly sought-after country such as Botswana,” the company will attract the top mining companies from around the world. “These top mining companies see Botswana as an attractive investment environment with a stable government, stable regulatory policies, an educated workforce and a great place to do business.” Ferreira said the successful buyer will do so because of these facts, and they will see the opportunity to maximise the full potential of Khoemacau by working with the people that work for Khoemacau currently. “We will run this process in such a way that it minimises the disruption to our employees and operations, and we do ask your patience in the coming months as we complete this process for the current Shareholders/ Owners, who provided the investment without which we could not have created such a great Company,” he said. “We need to do the best job possible to sell the company successfully for them, while continuing to look after the company and the future of the business, which has a direct bearing on our employees, your colleagues as well as all stakeholders, as everybody’s future depends on the sustainability and long life of Khoemacau and also for the further growth of Khoemacau. “This process is a normal evolutionary process of companies in the mining industry and is good for Botswana, for our communities, for our employees and for all our stakeholders. “When it is eventually done and dusted, we will all appreciate the trust and confidence that some of the largest mining houses in the world have for our workforce, Batswana and the Republic of Botswana.” He added that the company currently has two private equity firms as owners and shareholders. “These firms have invested considerable capital since 2012 to create the company Khoemacau as we know it today,” the memo said. “As background, private equity firms invest funds on behalf of their ultimate investors.” Ferreira explained that private equity firms are not long-term owners of mines and mining companies, adding that they need to return the invested funds to their investors with returns, within a reasonable time span. “You will also be aware that our company has delivered some very significant achievements over the past 10 years, most particularly discovering the Zone 5 orebody, completing construction of our project in 2021 safely, on time and on budget, and by the end of last year we had completed the ramp up to full production,” said Ferreira. He added that Khoemacau has tremendous opportunities ahead of it, whether it is the further optimisation of current operations to above world-class performance, delivering the Expansion Project to double the size of current operations, developing renewable sources of energy through the mine’s solar energy project, or unlocking the full potential of its licence area through ongoing exploration. [/ihc-hide-content]

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Khoemacau Copper Mine Up For Sale

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