CRADLE Arc, formerly known as Alecto Minerals, was to increase output at its Botswana copper mine, Mowana, to 12,000 tonnes a year and was looking to grow production further through acquisitions, said Reuters citing the firm’s CEO, Kevin van Wouw.
After securing debt funding worth $10m, Van Wouw said the mine would accelerate development to lift output to 12,000 tonnes per year over the next three to four months. The goal after that would be 20,000 tonnes per year, Van Wouw added.
“There are numerous assets on the block. We are looking at a number of them,” Van Wouw told the newswire service. Cradle Arc relaunched with a listing on London’s AIM market in January, raising $8m to support the Mowana mine, said Reuters.
