Announced November 2023; completed H1 2024. MMG (HK-listed, China Minmetals) acquired Canada’s Cuprous Capital, owner of Khoemacau in the Kalahari Copper Belt (50–65ktpa copper-equivalent now; expansion to 135–155ktpa; >20-year life; 4,040km² package; 6.4Mt contained copper, 263Moz silver). Botswana’s largest mining M&A deal of the window.
Value: US$1.875bn enterprise value (verified against public announcements).
Advisers: Macquarie Capital and Citigroup (joint financial advisers to MMG). Legal counsel (not disclosed).
Recorded by The Meridian research desk from public announcements, regulatory filings and financial press coverage. Dates and values are as publicly reported.
