Acquisition of Khoemacau
Capital Intensity (US$/t)
4 Highly competitive capital intensity
Khoemacau brownfield expansion represents a cost-efficient way to achieve production at scale
Capital intensity of new and future copper projects
35,000
Bubble size Avg. CuEq production
30,000
25,000
20,000
15,000
10,000
Khoemacau
(brownfield expansion)!
5,000
1,000
2,000
3,000
4,000
5,000
6,000
Initial Expansion Growth Capex (US$m)
7,000
8,000
9,000
Source: Wood Mackenzie, company announcements and MMG analysis. Notes: Capital Intensity calculated as project capital expenditure divided by average copper equivalent production. 1. Khoemacau capital intensity calculated as: (expansion capital) divided by
(incremental CuEq production between pre- and post-expansion).
19
10,000
M
MMGView entire presentation