(Yicai) May 20 -- Shares in JCHX Mining Management soared today after the leading Chinese mining contractor said that it has bagged a USD805 million contract to provide mining services to Khoemacau Copper Mining in Botswana.

JCHX’s share price [SHA:603979] was trading up 7.1 percent at CNY39.58 (USD5) as of 1.45 p.m.

JCHX’s wholly owned subsidiary in Botswana will be responsible for underground mining operations in Zone 5 of the Komakau copper mine, which has the 10th largest copper deposits in Africa, the Beijing-based firm said yesterday, citing the deal signed by the two parties. The contract runs from July 1 this year to June 30, 2030. No further details were given.

Komakau, which sits on the Kalahari Copperbelt and started operations in 2021, was bought by China Minmetals for USD1.8 billion in November 2023. This marked the biggest overseas copper acquisition by a Chinese company since 2018, and the largest single investment by a Chinese firm in Botswana to date.

JCHX, which mostly provides mining management services, has become more involved in developing mines in recent years. This year alone, the company has secured rights to develop two major overseas mines, namely the Alacran copper-gold-silver mine in Colombia and the eastern zone of the Lonshi copper mine in the Democratic Republic of Congo.

Editor: Kim Taylor