Kalahari Copperbelt yields first mine

The new mine targets production of 36,000 tonnes of the base metal per year over a projected 15-year lifespan. It will also pump out 1.1 million ounces of silver per year, being the first large-scale extraction of the precious metal in Botswana's history. Speaking at the launch near Toteng, Khama noted that while the area's copper and silver mineralisation had been known since the 1970s, it was with Discovery Metal's arrival in 2005 that exploration moved to production.

"I ardently hope that the continuing exploration activities will yield positive results (and) I am excited by such prospects because if results are positive and economic to justify development, it means greater benefits for the nation," the President said.

"The development of the Boseto Copper Project brings opportunities for residents of Ngamiland to shift focus to trading in some sectors that the mine in their area would support."

Khama said while the Australian junior miner had become the first to tap into the Kalahari Copperbelt's potential, there were other potential mining projects "not far from this area."

One such project is being developed by New Hana Mining which holds prospecting licences for copper and silver covering 10,653 square kilometres, including the flagship Banana Zone. The Canadian firm recently completed a preliminary economic assessment on the Banana Zone.

Another explorer, Australian firm, MOD Resources, holds licences covering about 10,000 square kilometres of the copperbelt and recently identified 100 kilometres of priority areas for its exploration programme. At Friday's launch, a beaming Discovery Metals' chairman, Gordon Galt said commissioning and ramp up activities were progressing well with a view to strong and sustainable cash flows into the future.

"I'm delighted that the Boseto Copper Project has been officially opened and to be able to report to our shareholders that we have kept our promise and brought this fantastic asset on stream, on time and within budget," he said.

"This will allow us to fully develop the potential value in the new copper frontier that is the Kalahari Copperbelt."