MMG Plans to Purchase Copper Mine in Africa for $1.88 Billion

Mining firm MMG has agreed to purchase a copper mine in Africa for an enterprise worth of almost $1.88 billion as a part of an effort by the Chinese language government-backed firm to increase its portfolio.

MMG, which is sort of 68%-owned by state-owned China Minmetals, plans to purchase the Khoemacau mine in northwest Botswana within the rising Kalahari Copper Belt, the Hong Kong-listed firm stated Tuesday.