By: Creamer media

The company’s underground mining arm, Barminco, has operated at Khoemacau since the mine’s development began in 2019.

We have appreciated the opportunity to work on the Khoemacau copper mine and wish MMG well with their expansion plans,” said Perenti MD and CEO Mark Norwell.

“As outlined during our half-year results, the financial performance at Khoemacau has not met our internal performance hurdles and we must maintain our commercial discipline to enable consistent returns through economic cycles,” he explained.

“Operationally, our team has done an outstanding job, and I thank them for their persistence and dedication,” Norwell added.

Under the agreement, all on-site equipment will be sold to Khoemacau Copper Mining, a subsidiary of Hong Kong-listed MMG, with final valuations to be determined according to a pre-agreed formula.

Gabrielle Iwanow, Perenti’s president of contract mining, highlighted the long-term impact of the company’s workforce development efforts in Botswana.

“I am extremely grateful and appreciative for the efforts of the Barminco team who have delivered results at Khoemacau,” she said. “I trust that the high standard of training we initiated, including training some of the very first underground mine operators in-country, will leave a legacy for the hundreds of Batswana citizens we have worked alongside for the past six years.”

Perenti said it will continue to support the client during the transition phase to ensure a “safe and uninterrupted handover of underground operations”.