Alecto looks to buy Mowana copper mine

Aim-listed Alecto Minerals on Wednesday said it was looking to acquire 100% of Botswana-based holding company Cradle Arc Investments’s shares, which owns the Mowana copper mine, for £6.72-million. Alecto will acquire a 60% interest in the 683 000 t indicated resource Mowana, a former producing copper mine, and plant which it believes can be brought back into production at a relatively low cost. The mine has an additional 945 000 t copper in the inferred category.