On March 7, 2024, in Windhoek, the capital of Namibia, China Minmetals Resources Group Co., Ltd. (hereinafter referred to as “China Minmetals”) through its wholly-owned subsidiary China Minmetals (Hong Kong) Rare Metals Resources Co., Ltd., reached an agreement with Dundee Precious Metals Inc. (hereinafter referred to as “DPM”) to acquire the Tsumeb smelter in Namibia. The acquisition targets 98% of the issued shares of Dundee Precious Metals Tsumeb Holding (Pty) Ltd. (hereinafter referred to as “DPMTH”) held by DPM, with the transaction price being $49 million in cash. DPMTH’s main asset is the Tsumeb smelter located in Namibia. Mr. Wang Pingwei, Chairman and President of China Minmetals, and Mr. Lou Yonggang, Assistant President and Senior Manager of the Operation Management Department, attended the signing ceremony.
The Tsumeb smelter is one of the few specialty smelters globally capable of processing complex concentrates such as high-arsenic copper concentrate. The smelter has mature process technology, complete infrastructure, and convenient transportation, with a railway connection to the Atlantic port of Walvis Bay. Currently, the smelter’s concentrate processing capacity is 260,000 tons/year, with main products being blister copper and sulfuric acid. Through technological upgrades and renovations, the concentrate processing capacity is expected to increase to 370,000 tons/year.
Copper is an essential raw material for the new energy industry, widely used in solar energy, wind power, and electric vehicles. The acquisition of the Tsumeb smelter by China Minmetals aligns with the company’s strategy to accelerate the development of its copper mining business, providing a new growth point for sustainable mining development.
[Source – 上海有色网] 中矿资源收购Tsumeb冶炼厂 加快布局铜资源开发 https://news.smm.cn/news/102653423
