FMRB awarded prospecting licence for Kalahari copper near Khoemacau
The Minister has granted Falcon Metal Resources Botswana exclusive rights to prospect for metals in the licence area for a period of 3 years, commencing on 1 October 2024 and ending on 30 September 2027.
The licence area, 106.88 km² in extent and located in the North West District, allows for the development and open-pit mining of copper at Ghanzi, Botswana.
The licence is in close proximity to the Khoemacau Copper Mine, recently acquired by MMG Limited for US$1.875 billion.
Khoemacau Mine key highlights
- Annual copper equivalent production of 50 to 65 thousand tonnes, with a near-term expansion to 135 to 155 thousand tonnes.
- Dominant land holding in the emerging, highly prospective Kalahari Copper Belt, with a 4,040 km² tenement package.
- Mineral Resources of 6.4 million tonnes contained copper and 263 million ounces contained silver.
Falcon Metals is now moving forward with initial geophysical surveys, historical data interpretation and compilation, and interpretation of available magnetic and gravity data sets, followed by surface development work and clearance activities.