MMG (HKG:1208) subsidiary Khoemacau Copper Mining entered into a mining services agreement with Huaye Botswana Mining for underground mining work at the Zone 5 and Zeta mines in Botswana, according to a Thursday Hong Kong bourse filing.

Shares of the copper miner were up nearly 3% in morning trade Friday.

Khoemacau Copper also signed a separate mining services agreement with MCC23 Botswana for underground mining work at the Mango mine.

The agreements form part of the Khoemacau mine expansion project and cover mobilization and underground mining services over a 67-month term.

Under the Huaye agreement, annual transaction caps are set at $35 million for 2026 and $200 million annually from 2027 to 2031.

The MCC23 agreement has annual caps of $25 million for 2026 and $50 million annually from 2027 to 2031.