Perenti to leave Khoemacau copper mine in Botswana
Perenti has announced plans to conclude its operations at the Khoemacau copper mine in Botswana. The Australian mining services company whose underground mining division, Barminco, has been involved in the project since its development began in 2019, revealed it will exit the mine by the end of June 2025.
Perenti expressed appreciation for the opportunity to work on the mine and extended best wishes to MMG, which owns the operation, as it moves ahead with its planned expansion. Managing Director and CEO Mark Norwell noted that the decision to exit the project was driven by financial performance concerns. He explained that despite the strong efforts of the operational team, the project had not achieved the internal performance benchmarks required to justify continued involvement. Norwell emphasized the importance of maintaining financial discipline to ensure stable returns across economic cycles and commended the workforce for their dedication throughout the project.
Exit process
As part of the exit process, all equipment currently in use at the site will be sold to Khoemacau Copper Mining, MMG’s Botswana-based subsidiary. The final valuation of this equipment will be determined based on a previously agreed-upon formula. Perenti has committed to supporting a smooth transition of operations to ensure safety and continuity during the handover.
Gabrielle Iwanow, President of Contract Mining at Perenti, highlighted the company’s role in developing local mining talent during its time at Khoemacau. She praised the team’s contribution to training some of the first underground mining operators in Botswana, noting the long-term impact of these efforts on the local workforce. Iwanow expressed pride in the legacy the company leaves behind and gratitude for the collaborative spirit shown by the Batswana people over the past six years.
