At a critical period of deepening global energy transformation and the rise of data center construction, copper resources, as the "new oil" of the electrification era, have increasingly highlighted their strategic position. However, the industry is facing severe challenges on the supply side - over the past fifteen years, global copper exploration investment has been consistently insufficient, with few newly discovered large deposits. Against the backdrop of this structural contradiction between supply and demand, global mining companies are accelerating the expansion and upgrading of their existing assets to seize future market opportunities. At this time, Minmetals Resources is promoting the large-scale expansion of the Komako mine, which is a strategic response to the changing situation in this industry.

Recently, the board of directors of Minmetals Resources officially approved the feasibility study report and design scheme of the second phase expansion project of the Komakao Mine in Botswana. The total investment of this project is about 900 million US dollars, and it is planned to produce the first batch of copper concentrate in the first half of 2028. After the expansion is completed, the annual copper production of the mine will significantly increase from the current level to 130000 tons, becoming the core copper asset of Minmetals Resources in Africa. Meanwhile, the annual production of associated silver will also exceed 4 million ounces.

The expansion plan aims to build a new beneficiation plant with an annual processing capacity of 4.5 million tons, bringing the total beneficiation processing capacity of the mine to over 8 million tons per year. The mining area will also extend from Zone 5 of Phase I to the northern part of Zone 5, Mango, and the northeastern part of Zeta. Expanding production not only brings about an increase in scale, but also optimizes the cost structure. According to the plan, after the second phase of the project is completed, the average C1 cash cost of the Komaco mine is expected to drop below $1.60 per pound, which is a significant improvement from the actual cost of $2.05/pound in the first half of 2025. This will greatly enhance the cost competitiveness and profitability of the mine in the global market.

Build a global core copper asset portfolio

The expansion of Komako Mine Phase II is a strategic measure taken by Minmetals Resources to seize the opportunity of global energy transformation. Amidst the global shift towards clean energy and the construction of data centers, the demand for copper as a key raw material continues to grow. At the same time, in the past fifteen years, there has been insufficient investment in large-scale copper exploration worldwide, limited new projects, and increasingly prominent supply constraints. Minmetals Resources is actively responding to the structural opportunities in this industry through the stepped expansion of Komako Mine.

More forward-looking is that the company has identified further expansion potential in the mine, and the annual copper production capacity is expected to increase to 200000 tons in the future. It plans to launch a pre feasibility study for the third phase of expansion in 2026. This move will further strengthen the long-term resource reserves and growth momentum of Minmetals resources. Keywords: International News and Information, International News Network

The expansion of the Komaco mine is a key part of Minmetals' global strategy of "dual entry of South America and Africa". It forms a core asset matrix that echoes and complements the advantages of the Las Bambas large copper mine operated by the company in Peru. Through this layout, Minmetals Resources has not only optimized global asset allocation and diversified regional risks, but also significantly enhanced its voice and comprehensive competitiveness in the global copper supply chain, laying a solid foundation for shareholders to create long-term sustainable value.Editor/Cheng Liting